TheSpaniard 7 Aug 2012 23:51
Evening.
Can I say at the outset I'm no expert on L2 but will give it a go.....lol
I spoke to several HOIL holders today and discussed L2 and try to work out what was going on.
We were stuck at 140 for a while and we talked about possible reasons:
It wasn't a technical resistance point as we haven't been trading for weeks so the charts went out the window.
It may have been a natural 'big number' resistance which definitely happens.
Was it being held around 140 for a reason?
As you say Heritage will not want it kept low.
Were the shorters upping their shorts to keep it lower?
Was it being kept low for large buyers to get in?
Was it being kept low for large orders from shorters to close their positions?
Maybe we were having a natural breather before pushing on in the afternoon.......don't really know.....don't REALLY care as long as it keep going up.....lol
The 15,000 's on both the bid and the ask were what the MM's were offering - their names are next to them...WINS,CANA, JPMS etc ...others are PI's. Every morning when the book is set the MM's put these up. Some are worked on and taken out, these are then replaced at a lower/higher price - I don't know if this happen as you would have to have been watching it constantly to confirm this...and I wasn't ( Searcher probably did....lol just joking Searcher)
We may well get some chunky delayed trades tomorrow, or more large trades once orders have been filled. Hopefully most who wanted to sell - sold today, although it is hard to see a nice profit and not be tempted to squirrel some profit away....especially after the year we have all had in the markets.
Hopefully what I have penned is not complete pants - we are a few mates who like everyone learn as you go along. If I have put up something that is incorrect, I'm sure someone brighter than I will put me right....I won't be offended....honest!!
Good luck all holders
Dave
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