Definite corporate / insto buying ... the big question for me is ... is it the prelude to a takeover? $50mn+ for the day is certainly not Mums and Dads buying.
Looks to me like the buying is time sensitive - someone / or some people going for size as opposed to price to buy as much as possible in a specific timeframe
Looking at the VWAP of 100.28 I would hazard a guess that today's target was buy as much as you can and aim for $1.00 average.
Tomorrow's VWAP target will by necessity be higher.
The fact that the management have issued a reply to the speeding ticket saying we have no idea why the SP is going up would indicate to me that they don't believe it is because of the roadshow or they would have said so.
Which only leaves LNG being a T/O target.
All leads me to believe we will be in the $1.50 - $2.00 range in short order.
Any comments?
EB
LNG Price at posting:
$1.03 Sentiment: None Disclosure: Held
