Andy I agree with most of your comments except that I don;t believe we will need to wait for a 20mill plus day on volume. ITC I reckon has only ever traded more than 20 mill in a day a few times int the many years I have been a holder or follower. Volumes of 8-10mill is where I would expect something. If you recall last time they had to bid it up to get any level of stock and the same will happen here if they want the stock. They averaged 6c a share last time. The retarce has been gradual and on relatively light volume so I don;t expect alot of stock to come out. The register is also decidely tighter now with 52% of the shares held by the top 20 and probably another 5% by us Hotcopperites.
Interesting day coming up tomorrow.
ITC Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
