Fair enough. But if we look at London (currently $0.017 equiv),...

Fair enough. But if we look at London (currently $0.017 equiv), we can see that the volume traded below their spread midpoint since the SPP Ann is ~7.5m, vs above the midpoint 16.5m. A buy/sell ratio in excess of 2:1.

Very little activity at all it seems, prepared to transact below the 1p raise. I'd be more inclined to think stop losses, or other tools designed to protect more risk averse investment encapsulates most of the offloading under 1p.

(LSE 1hr)

• We can see an increase in volume @ or above 1p for that month 20th Oct thru 20th Nov.
• We can see the 10-15% re-rate the SPP 'caused', and we can see the RSI (hrly) has dipped to oversold for the first time since before August.
• We know what is happening with POO, but if OPEC cut as is intimated, i would mind taking a long position there too.

And with less than a million traded here today (all @ 1.7c), it seems like whatever smart money that was looking for a hurried exit, has left the premises.
I think we are holding up quite well really, with just as many seeing opportunity at these levels, as there are those measuring risk.