Either whoever put that sell on the board doesn't know how to trade i.e. does he think doing that will increase his chances of moving his stock?
OR
He DOES know how to trade...
I usually hate it on HC when guys automatically cry "manipulation" or "capping" whenever they see a big sell that they don't like. But in this case it does look a bit suss. If ever something resembled capping, this does to me.
As I said in my previous post, we've had a similarly big bid on the buy side at 37 for days, and now that has been hit and we've got a big whack on the sell side at 37.5.
To be honest I don't really know WTF those two things mean or if they are related.
All I know is that, based on the backlog of drilling results to be assayed, as well as the new drills underway, there is a big stream of newsflow heading our way. And, given that they are fully funded for the whole of 2013, none of that newsflow is likely to carry the headline "placement".
I'm happy to hang in and find out if this resistance at 37.5c is a cap, and if so...what lies beyond it...
ROL Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held