I posted yesterday about the rumours of a LGL takeover being...

I posted yesterday about the rumours of a LGL takeover being around for a long time, what makes anyone think it is different this time? The price rise this week? Could be the broker upgrades, I agree the price movement in the past week or so has been unusual, even now the price of gold has been relatively flat/stable for the past couple sessions, yet LGL powers on. Smart money was accumulating this one when it fell to around $2.50 a month ago, and like I said yesterday, LGL often over-shoots in both directions, and with the $3.30 resistance level coming up soon, it's be hard to break that without a rise in the price of gold, or a genuine takeover offer!

The total percentage of stock reported short sold on LGL is 0.19%, which is still well above average for the ASX. Still a lot of people short on LGL, which is interesting to note. Will love to see the list updated tonight and see if it is short covering today, it's hard to speculate on the price movements but lets not get too excited just yet. I'd love for a takeover offer to be made for LGL, but its happened so many times before.