Today was the perfect opportunity for a genuine 10c seller to dump up to around 9 million odd.
Didnt happen, because the seller at 10c now wants 10.5c and 11c is even better.
Notice the 10c buy orders pulled a la 9.9c after the close, wasnt watching at the time but must have been approx 5 million.
Their strategy is clearly trying create the impression of buying pressure and at the same time trying to work their way down the queue.
If no significant orders step into the queue ahead of them before mondays open thats ok too, they just put the order(s) back and hope it doesnt get to sold into.
If it does, no worries that buy then becomes part of the sell at 11c and so on.
Looks to me this pattern will continue to repeat as the SP continues to step up, although the higher the SP rises
their volume will start to reduce accordingly as the risk increases.
RMP Price at posting:
5.0¢ Sentiment: Buy Disclosure: Not Held
OEL Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
