just been looking at the action at 23 not far from the bottom is a large order that started at 1.5 mill it reduces with taken out bids at 22.5, an accumulation play presumably the same group who ran the earlier stake of 1.5 mill+, the upper asks have large orders locked in position,under changes initiated by the asx you cannot increase an order in the que only decrease ,last year this was possible leaving hedge funds a smorgasbord of stock to rape.
i think this is a positive for mof to see it in play,to beat them you need to take out the asks.
well while i have been writing this the scenario has altered, the bids at 23 will probably flip to the ask on monday of course that will depend to some degree on sentiment from the usa markets tonite and the world over the weekend.
the asx at this level is all about being in the que which requires planning and strategy,us little mugs have small windows of opportunity but you never know thats the key to fear and greed,i thought i should sell at 28,5 on the premise it might go lower however my broker would probably not be so happy to see me dump enmasse which is what at market buyers and sellers tend to do.
so i still frustratingly sit knowing my cost price is substantially lower than the current sp.in the belief that retained value within mof will eventually surface along with a most agreeable level of dividend.
it should be noted the whole market was down today
MOF Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
