I still believe the offscreen seller to be part of the recent large parcel of shares released from escrow. The reason i am excited, is, with the continued large volume of trading, then these ex owners, who just want quick cash for their shares, will soon be washed through, and then we are left with proper market forces to dictate the movement of the share price.
Having last spoken with a company representative several months ago, i led the fact of my thoughts on the released securities. My thoughts, whilst i cannot be completely sure, was that the company was at that stage not that happy with the slow drip of selling that constantly eroded the share price, and would have liked that particular seller to just show his cards and lump out. The difference now is that healthy volumes are washing through, which means that the alert is on. So who is this cashed up buyer. Mmmmm. Be interesting to see what these accumulators will be willing to push us up to in the short term.
MKE Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held