It wouldn't surprise me if there was a little more manipulation...

It wouldn't surprise me if there was a little more manipulation of the share price going on. Having said that 1,000,000 sell orders aren't huge in this sort of sp range.

Current action to me just seems to be large holders (ie. Magna) potentially trying to keep a cap on things. Remember they can't put in too large a sell order because if someone buys them they could reduce their holdings by more than 1% and then they have to report it. This as mentioned by somebody recently would be a very bad look for them. Everybody else is just waiting for news. The only thing I would suggest might be a bit different to previous similar situations age007 is probably the very risk averse nature that people seem to have in recent years. People seem far more skittish than in years gone past. This works in the favour of those who are looking to accumulate on rumour (true or fake).

The fact remains we have a predator waiting just under the 20% threshold and (IMO) obviously trying to keep the sp in check. There is no way in the world they don't have greater analysis of the details of the reserve than what each of us do. I would suggest a takeover is pending almost irrespective of news. Good news they try to keep the price at reasonable levels. Bad news and they can gorge themselves on the shares of fleeing investors.