There have been only two other incidences when SPL's volume...

There have been only two other incidences when SPL's volume exceeded yesterday's 7,440,293 shares.

The first occurred on 18 June 2010 when 7,629,405 traded hands and that was followed up with another 2,034,700 shares transacted in the following session. The share price on the 18th opened @ $0.55 cents and closed @ $0.55 cents (yesterday’s price barely moved too). For the next several months, the price hovered in a narrow range, reaching a closing low of $0.53 on 9 August. However, over the next 200 trading sessions the shares appreciated 211% reaching a price of $1.62 on 27 May 2011.

Interestingly, the only newsworthy item related to that timeframe occurred one month prior when a Shareholder Update was issued in May 2010. The major headlines of that report included the following items:

• an overview of the potential of Starpharma’s drug delivery portfolio;
• successful completion of a VivaGel® study in sexually active women;
• the latest on the VivaGel® bacterial vaginosis program;
• financial update as announced in the recent quarterly cash flow report;
• Improving condom sales and market position for the Company’s partner SSL International.

So obviously nothing was stated that was noticeably different than the standard Shareholder Update boilerplate. The only catalyst being the share volume.

Of note is that the Bollinger Band dispersion back on 18 2010 June was in a tightening range of 10.64% indicating a period of lowered volatility. Yesterday’s 32.44% dispersion, which has broken the upper band, indicates to me that we might be on the launching pad for a volatile ascension. As always, do your own diligence and GLTAH.