It is possible that it is Valin. Portman didn't have much room to accumulate up to 20% so the volumes speak for themselves. The buyer obviously wants to get a large slice of the pie on market. There must be a time limit to issuing a substantial holders notice. They are buying in waves and let the price drift backward. Today they scared a lot of people, knowing that traders would have to sell and knowing that for a large part of the day they would pretend they have stopped. The price would fall and weak holders would have their hands forced, as well as stop losses triggered from traders.
They don't buy in a pattern, each day is different and they accumulate at different times. It is scary having a large holding seeing the price fluctuate so much.
I believe they are buying into FAS to gain control as FAS has such a large slice of GWR. FAS would want a high price for their GWR shares, so it would be cheaper to buy FAS on market, or gain control of FAS to sell the GWR shares. They will let the FAS price fluctuate to large proportions to shake out the traders and cause havoc. We will probably see a takeover offer at some stage for FAS as well as GWR.
GWR Price at posting:
94.4¢ Sentiment: Hold Disclosure: Held
