Hi Guys another thought I have had through the day is that one possible explanation for the lack of movement is someone "big" is accumulating. For the past few weeks there has been a seller sitting at 54c with (cant exactly remember) but nearly 200,000. Everytime the SP approached it got sold back. I suppose forcing smaller sellers to sell under 54c.
Now tonight we have 1 seller at 50.5c (183,000) and 1 seller at 51.1c (143000). Again we are facing a situation this week that if you want to sell a "small" parcel of shares then you will have to go under these two sellers
Are these larger sellers "mopping up" nervous small players? I dont know the answer just posting a possible scenario for the current situation.
Good gold results could change all that but more delays, especially if the BFS study doesnt appear this side of Christmas could mean my top this morning will be seen as foolish
TRF Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held