Hi rvsy,I think it was a tactic to sell down some or all of his...

Hi rvsy,

I think it was a tactic to sell down some or all of his holding. Goes a bit like this -

1/ place a large buy just under the selling price.

2/ this creates the impression that "smart money" wants in and forces buyers who want in to queue jump. Creates a bit of an artifical floor.

3/ You then sell down your holding in an orderly fashion to the desired level and then pull your bid. Job done.

Its not suppose to be done but it happens all the time, works well in reverse too (called capping) where someone wanting to build a large stake (without driving the share price up)will put large sell orders just above the action.

Some institutions will be actively buying and selling to orderly build or reduce a stake in a stock. (and now the have bots)

So thats what I was getting at with our big buyer @ 26 cents, he was almost certainly the principal seller in recent days.

IMHO

Oscar