Originally Posted by
Maxtrade
Yeah but if you are right Tango then will be quite a lot of downward pressure eon SP until he can move through that sort of volume of shares to somewhat cash out and retire. Predicament really. SP dropping below 1.30 as we speak, hope I am right with my previous comment of 1.25 holding and forming a lower end support level there. Shouldn't go lower than that surely, fingers crossed. But if you are right and DD's brokers are on sell call then could see SP battered over the following month while he sells through.
Sizeabkle 20,000 - 40,000 sells have been going through consistently throughout the day. Brokers just wait for the bid side to catch up as they drip feed the order through. In order to follow 'fair market trade". I have found this in the past with other shares I have wanted to sell down, been informed I needed to stagger them down not put a single sell on market considerably lower than days opening or current price. Seems to be what is happening? Happens to be approx 10 minutes apart. That way the brokers can get a better price by letting bids build up rather than drive their own sell price down too heavily. Definitely can be seen as we speak if monitor the recent trade activity. Look for the sell orders spacing through 20,000 - 40,000 consistently.
Luckily there seem to be sufficient bids coming through to keep it around the 1.30 level, but as the flow of sells steadily keep pushing through the buy demand may diminish as the day progresses and might well be closer to 1.25 by days end :( Oh well lets cross fingers 1.20 not tested!! We need some big buyers to come in, but most of them already spent up in the recent Cap Raise. Come on guys top up and double down if hit 1.25 surely (ha, not as if the big boys are looking at this forum anyway!)
Looking by the activity brokers have been instructed to cash out 1.30-1.31, that's where their bids are coming through. Lets hope they have been instructed not to drop below that figure. If so maybe 1.30 can hold fingers crossed. As soon as buy orders surmount to approx 20,000- 40,000 (or higher) @ 1.30/1.31 look what happens, a sell comes through for approx 20,000, 30,000 or 40,000 knocking it back sub 1.30 again.