Another bad day for the share price but then again the whole...

Another bad day for the share price but then again the whole market is down 128 points.

The high volume of daily trades continues despite low declared buy and sell numbers. This suggests to me that a big holder (although not that big to require it to disclose its holding under the listing rules) is gradually selling down its stake.

Six weeks ago there was one trade of 4.4 million shares. Since then the daily average has been close to 100,000. This is more than double the same time last year. It therefore begs the question, who is buying? I wouldn't be surprised if it is Auswide (Formerly Wide Bay) It's share price has held up remarkably well despite it's problems a year or two ago.

Also, why did the most recently appointed director from Victoria resign after only six months and why did the company only put out a one line advice to the market. No thanks or explanation. However a week or so later the company put out a revised share trading policy. Perhaps this was a coincidence and more detail will be provided in the annual report.

In my view Continuous Disclosure rules require a market update before full year results are announced on 21/8.