The pattern of trading on Friday made me think that someone had clearly formed a trading pattern to entice selling of shares. The timing to co-incide with a lull following the recent surge.
What we had for much of the day was a daunting big overhang of sells at .35, some sells at .345 and then a smaller trickle of buying down to .33 or so.
The exchanges were mainly in a tight band at .34 and .345.
The message to the potential seller was - 'the best you can hope for at the moment is to sell at .345 and if u miss this chance ur next sell opportunity will be .33'.
Most sell shares that were pitched into this .34 / .345 area sold immediately.
What I take from this is that someone is willing to buy at a fraction more than the price the rest of the market is willing to pay and formed a pattern to tempt sellers - they clearly believe the price is going up further from here.
All speculation of course, but I thought it looked suspicious.
Looking forward to reading the quarterly report.
The pattern of trading on Friday made me think that someone had...
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