Majority of DTs started buying probably 3 or 4 days ago. Plenty of them sitting on nice profits. Looks like today's volume will equal the previous 3 days of volume combined so hopefully it is flushing them out. The 30% rise a couple of days ago is when the controlled buying lost control. You could see after that the frantic bidding by some to get stock at any price. A few daytraders will have been burnt today. Personally I'd never buy a stock that has risen so hard on the exit of a trading halt with news. Rarely will it hold.
It's a real test now. Will be interesting to see where it bottoms out. As some have suggested there is plenty of news on the horizon for GDA so interest should remain. Will wait and see.
GDA Price at posting:
6.2¢ Sentiment: None Disclosure: Held
