A simple look at the order of trades will tell you that Macquarie Insto desk has a sell order going (+1.0m net seller already today).
Typically speaking insto. orders are transacted over the whole day, and try to beat VWAP (volume weighted average price) i.e. buy cheaper than VWAP or sell higher than VWAP. This is how insto. dealers earn their stripes.
So what I am saying is that the insto. will be selling all (most of the) day, so there is more selling to come!! Look out for him tomorrow as well!
Stay away until the insto selling disappears.
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
