RE: Stock gathering17 Aug 2023 07:59
HH I agree with your observation there’s certainly been some stock gathering however there’s not many left who would not be making a loss to sell so low and if they have hung on this long there’s no driver to sell down here when we are getting very close to announcement which they have to make soon. Point is that as we know the new Directors didn’t do this on a whim they already have a plan hence the takeover of BOD, (old useless BOD IMHO) standing down dispensing of salary rights because they too know there’s one heck of a plan in the pipeline. In a very small available free float stock getting hold of large quantities even when it’s had a downturn speaks volumes. I’ve collected here when I can and have a good strong position here. The pattern forming is that this will now hit into 2.00s as buyers realise that’s the best they’re going to get if indeed they want to be in here. Yet when it begins to move up again and mark my words it will, everyone will fight and panic to get back in here such is the vast movements this can make. And a useful note in this is that the sudden flux upwards tends to far outweigh percentages eg 60, 100, 200 etc than any flux’s down. Again useful info in that it has to be stepped down as perception it’s ‘falling’ but once it moves up over support lines it is fuelled by lack of stock and the SP’s own momentum. Then buyers rain on in. This is what moves it vast leaps upwards. Currently it’s oversold that’s the deal. IMHO GLA