Interesting trading on CPL over the past few days.In Canada...

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    Interesting trading on CPL over the past few days.

    In Canada trading in the mid to high 1.70's
    In Australia struggling to stay over $1.70 and generally trading in the mid 1.60's
    This discrepancy is partly due to the exchange rate but we still seem to be at a net discount to Canada.

    The interesting thing in Australia is that over the past year or so buyers and sellers volume/depth would be generally about the same, with off screen buyers coming out on days of good spikes.

    Over the past couple of days sellers have been out numbering buyers by around 4:1, but the main volume in the selling side is staying above the current traded price.

    Clearly there were some big buyers over the past year or so buying off screen (and giving us spikes to well over $2.00 on occasion) and now these buyers (or others) have sufficient stock to load up the sell side so that people are selling at a lower price being influenced by an apparent in balance in buyers/sellers.

    Classic accumulation by the big end of town.

    Happy to hold and wait for the games to develop


    Newbie Thomas
 
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