CUL - Cullen Resources

[chris1983]

There was 40m bought under 7c this morning!

Accumulation?

I think so,

This can't all be traders can it?

I think theres more to it, but then I could be reading into it, still looks like today will beat yesterdays volumes

Even if it is more traders will come in and push CUL up to fair value. So its looking very interesting atm. It should trade well over 100 million volume today which is huge

 

[alanding]

There was 40m bought under 7c this morning!

Accumulation?

I think so,

This can't all be traders can it?

I think theres more to it, but then I could be reading into it, still looks like today will beat yesterdays volumes

811 - 819 1:01:40 pm 7.8 715,000 0.1 $55,770 9
809 - 810 12:58:41 pm 7.9 125,000 0.1 $9,875 2
795 - 808 12:57:18 pm 7.8 1,550,000 0.2 $120,900 14
794 12:55:17 pm 8 31,910 0.2 $2,553 1
790 - 793 12:55:09 pm 7.8 500,000 0.2 $39,000 4
789 12:55:08 pm 8 63,616 0.1 $5,089 1
776 - 788 12:55:08 pm 7.9 586,384 0.1 $46,324 13
775 12:54:09 pm 7.8 30,000 0.1 $2,340 1
774 12:53:55 pm 7.9 50,000 0.1 $3,950 1
765 - 773 12:53:38 pm 7.8 900,888 0.2 $70,269 9
764 12:52:46 pm 7.6 87,202 0.1 $6,627 1
750 - 763 12:52:46 pm 7.7 427,052 0.1 $32,883 14
747 - 749 12:49:35 pm 7.6 250,000 0.1 $19,000 3
739 - 746 12:48:54 pm 7.5 392,205 0.1 $29,415 8
736 - 738 12:48:33 pm 7.6 200,000 0.1 $15,200 3
730 - 735 12:47:58 pm 7.7 593,246 0.1 $45,680 6
724 - 729 12:47:56 pm 7.8 963,000 0.1 $75,114 6
707 - 723 12:46:45 pm 7.9 1,768,936 0.1 $139,746 17
704 - 706 12:45:43 pm 8 200,000 0.1 $16,000 3
702 - 703 12:45:40 pm 7.9 280,000 0.1 $22,120 2
701 12:45:40 pm 8 150,000 0.1 $12,000 1
696 - 700 12:45:39 pm 7.9 550,000 0.1 $43,450 5
690 - 695 12:45:33 pm 8 752,500 0.1 $60,200 6
688 - 689 12:45:12 pm 8.1 70,000 0.1 $5,670 2
669 - 687 12:45:05 pm 8 2,814,000 0.1 $225,120 19
665 - 668 12:43:40 pm 7.9 200,000 0.1 $15,800 4
664 12:43:00 pm 8 86,000 0.1 $6,880 1
652 - 663 12:43:00 pm 7.9 1,114,000 0.1 $88,006 12
643 - 651 12:42:32 pm 7.8 650,000 0.1 $50,700 9
625 - 642 12:42:06 pm 7.7 1,450,000 0.1 $111,650 18
624 12:40:00 pm 7.8 50,000 0.1 $3,900 1
620 - 623 12:39:55 pm 7.7 250,000 0.1 $19,250 4
617 - 619 12:39:54 pm 7.8 200,000 0.1 $15,600 3
614 - 616 12:39:22 pm 7.9 116,000 0.1 $9,164 3
606 - 613 12:39:14 pm 7.8 1,000,000 0.1 $78,000 8
594 - 605 12:38:54 pm 7.7 594,000 0.1 $45,738 12
590 - 593 12:38:23 pm 7.6 230,000 0.1 $17,480 4
588 - 589 12:38:12 pm 7.7 140,000 0.1 $10,780 2
585 - 587 12:38:12 pm 7.6 220,000 0.1 $16,720 3
583 - 584 12:36:55 pm 7.5 182,830 0.1 $13,712 2
582 12:36:55 pm 7.6 200,000 0.1 $15,200 1
575 - 581 12:36:28 pm 7.7 700,000 0.1 $53,900 7
569 - 574 12:35:42 pm 7.6 404,000 0.1 $30,704 6
549 - 568 12:35:30 pm 7.5 1,255,892 0.1 $94,192 20
536 - 548 12:33:00 pm 7.4 810,146 0.1 $59,951 13
525 - 535 12:31:29 pm 7.5 1,600,000 0.1 $120,000 11
520 - 524 12:30:19 pm 7.6 400,000 0.1 $30,400 5
519 12:30:12 pm 7.5 100,000 0.1 $7,500 1
502 - 518 12:30:08 pm 7.6 1,019,300 0.1 $77,467 17
490 - 501 12:28:48 pm 7.5 695,000 0.1 $52,125 12
476 - 489 12:27:56 pm 7.4 762,918 0.1 $56,456 14
464 - 475 12:26:46 pm 7.3 1,114,280 0.1 $81,342 12
460 - 463 12:25:38 pm 7.2 251,071 0.1 $18,077 4
459 12:25:17 pm 7.3 100,000 0.1 $7,300 1
452 - 458 12:25:15 pm 7.2 1,400,000 0.1 $100,800 7
449 - 451 12:24:33 pm 7.1 330,000 0.1 $23,430 3
444 - 448 12:24:03 pm 7.2 570,000 0.1 $41,040 5
430 - 443 12:23:41 pm 7.1 1,616,231 0.1 $114,752 14
427 - 429 12:21:23 pm 7 100,000 0.1 $7,000 3
426 12:21:15 pm 7.1 100,000 0.1 $7,100 1
394 - 425 12:20:54 pm 7 3,534,840 0.1 $247,439 32
384 - 393 12:13:46 pm 6.9 900,091 0.1 $62,106 10
379 - 383 12:11:23 pm 6.8 440,000 0.1 $29,920 5
378 12:00:29 pm 6.7 19,000 0.1 $1,273 1
372 - 377 12:00:29 pm 6.8 214,000 0.1 $14,552 6
361 - 371 11:58:11 am 6.9 955,274 0.1 $65,914 11
359 - 360 11:50:18 am 7 432,491 0.1 $30,274 2
339 - 358 11:49:26 am 7.1 1,540,909 0.1 $109,405 20
323 - 338 11:48:08 am 7 1,757,509 0.1 $123,026 16
317 - 322 11:46:54 am 6.9 550,000 0.1 $37,950 6
311 - 316 11:43:46 am 6.8 349,126 0.1 $23,741 6
310 11:40:35 am 6.7 30,000 0.1 $2,010 1
309 11:40:21 am 6.8 39,000 0.1 $2,652 1
306 - 308 11:36:35 am 6.7 110,000 0.1 $7,370 3
305 11:29:34 am 6.8 15,000 0.2 $1,020 1
302 - 304 11:14:32 am 6.6 168,209 0.1 $11,102 3
297 - 301 11:14:32 am 6.7 181,791 0.1 $12,180 5
293 - 296 11:06:19 am 6.8 481,518 0.1 $32,743 4
289 - 292 11:00:02 am 6.7 212,599 0.1 $14,244 4
288 10:56:47 am 6.6 60,000 0.1 $3,960 1
287 10:56:09 am 6.7 13,857 0.1 $928 1
281 - 286 10:55:23 am 6.6 490,000 0.1 $32,340 6
270 - 280 10:51:15 am 6.7 590,224 0.1 $39,545 11
268 - 269 10:43:07 am 6.8 150,000 0.1 $10,200 2
266 - 267 10:42:49 am 6.7 25,000 0.1 $1,675 2
264 - 265 10:42:37 am 6.8 500,000 0.1 $34,000 2
260 - 263 10:42:21 am 6.7 1,300,000 0.1 $87,100 4
258 - 259 10:39:24 am 6.8 75,500 0.1 $5,134 2
253 - 257 10:37:42 am 6.9 500,000 0.1 $34,500 5
242 - 252 10:37:25 am 6.8 462,000 0.1 $31,416 11
241 10:31:29 am 6.9 289,000 0.1 $19,941 1
240 10:30:07 am 6.8 80,000 0.1 $5,440 1
239 10:29:44 am 6.9 48,000 0.1 $3,312 1
237 - 238 10:28:30 am 6.8 164,000 0.1 $11,152 2
234 - 236 10:22:11 am 6.7 295,000 0.1 $19,765 3
232 - 233 10:22:00 am 6.8 236,000 0.1 $16,048 2
231 10:18:29 am 6.9 30,000 0.1 $2,070 1
230 10:18:29 am 6.8 70,000 0.1 $4,760 1
229 10:17:48 am 6.9 45,000 0.1 $3,105 1
225 - 228 10:16:26 am 7 378,000 0.1 $26,460 4
217 - 224 10:15:59 am 6.9 870,000 0.1 $60,030 8
215 - 216 10:14:17 am 6.8 300,000 0.2 $20,400 2
212 - 214 10:13:56 am 7 50,000 0.1 $3,500 3
207 - 211 10:13:53 am 6.9 220,000 0.1 $15,180 5
206 10:10:57 am 7 5,000 0.1 $350 1
197 - 205 10:10:57 am 6.9 650,000 0.1 $44,850 9
194 - 196 10:08:20 am 7 200,000 0.1 $14,000 3
193 10:08:12 am 6.9 100,000 0.1 $6,900 1
190 - 192 10:07:50 am 7 500,000 0.1 $35,000 3
187 - 189 10:07:32 am 6.9 299,000 0.1 $20,631 3
178 - 186 10:07:08 am 7 1,310,000 0.1 $91,700 9
176 - 177 10:06:27 am 6.9 80,000 0.1 $5,520 2
172 - 175 10:06:20 am 6.8 500,000 0.1 $34,000 4
170 - 171 10:06:09 am 6.9 300,000 0.1 $20,700 2
169 10:06:08 am 6.8 100,000 0.1 $6,800 1
167 - 168 10:05:55 am 6.9 1,120,000 0.1 $77,280 2
163 - 166 10:05:48 am 7 308,000 0.1 $21,560 4
155 - 162 10:05:35 am 7.1 763,824 0.1 $54,232 8
146 - 154 10:05:22 am 7 1,316,176 0.1 $92,132 9
141 - 145 10:05:14 am 6.9 330,000 0.1 $22,770 5
139 - 140 10:04:58 am 6.8 300,000 0.1 $20,400 2
137 - 138 10:04:50 am 6.7 250,000 0.1 $16,750 2
131 - 136 10:04:41 am 6.6 464,000 0.1 $30,624 6
125 - 130 10:04:25 am 6.5 700,000 0.1 $45,500 6
124 10:03:55 am 6.4 200,000 0.1 $12,800 1
123 10:03:53 am 6.5 100,000 0.1 $6,500 1
122 10:03:48 am 6.4 50,000 0.4 $3,200 1
121 10:03:40 am 6.8 158,032 0.5 $10,746 1
117 - 120 10:03:40 am 6.3 1,070,857 0.1 $67,464 4
115 - 116 10:03:35 am 6.4 250,000 0.1 $16,000 2
112 - 114 10:03:35 am 6.5 135,000 0.1 $8,775 3
111 10:03:35 am 6.6 100,000 0.1 $6,600 1
98 - 110 10:03:35 am 6.7 824,000 0.1 $55,208 13
91 - 97 10:02:41 am 6.8 450,000 0.1 $30,600 7
1 - 90 10:02:16 am 6.9 4,814,663 $332,212 90

 

[YOUNG_TRADER]

Niz given the rise of Iron Ore and the fact that this is now a possible near term Iron Ore producer, I don't think any of the chart is relevant before earlier this year,

So looking at 2007 only given the fundamental change
The only part that appears relevant is the activity that occured in mid April,

In mid april it ran from 5c to 6.4c over 5 days before retracing, intitial volume was 40m followed by 4 days of 10m

Compared with current situation

It ran yesterday from 5c to 7.4c on volume of 95m, today its clearly ranging/consolidating between 6.4c and 7c on volume of 32m so far and 40m+ by eend of day no doubt

Something tells me this time is different, something tells me that this was a long overdue re-rating due to the fundamental change which occured within the company, being that the mkt is waking up to the fact that -

CUL is no longer an explorer, but a potential near term Iron Ore producer who when compared to RHI (the most suitable comparison) is undervalued by at least 5-6c from these levels, then you add in the plethora of Nickel Iron and Uranium projects that are in high profile JV's ie BHP FMG Newmount and IGO and you have a company that is fundamentally undervalued which also offers a hell of alot of speculative upside,

I'm happy to see this consolidation

What do ya reckon Niz? Confirmation enough for ya re the its different now, fundamental re-rating theory?

I'd say this is now established as a clear breakout above 6.4c, there should be very strong support at those levels,

I doubt we'll see south of 7c over the next few days

 

[doctorj]

I refuse to believe it is just YT's disciples driving this. Every time I look a few million more go through. I don't believe ASFers and other forumites have that type of money (or the will to take such large positions in an illiquid stock).

Good luck to holders.

 

[YOUNG_TRADER]

I refuse to believe it is just YT's disciples driving this. Every time I look a few million more go through. I don't believe ASFers and other forumites have that type of money (or the will to take such large positions in an illiquid stock).

Good luck to holders.

I know Doc, yesterdays volume almost done and its not even 2pm

What do you think Doc? Insto's? I have no idea, I don't want to get carried away but these volumes are absolutely huge!

What have I created lol

 

[chris1983]

I refuse to believe it is just YT's disciples driving this. Every time I look a few million more go through. I don't believe ASFers and other forumites have that type of money (or the will to take such large positions in an illiquid stock).

Good luck to holders.

yeah the buyers are stacked right now. Be pretty hard to push it down with the volume at very strong levels. I'm liking this action.

 

[Dr.Stock]

Stock here
I`ve been following this stock for quite some time re obv`s and i think YT and the fellow asf`ers assesment of the stock are on call. This IS ballistic.
Something strange is brewing. Worried- too much too soon. Some one soothe my thoughts.
Don`t know whether to hit the 8`s or not. Thoughts?

 

[nizar]

What do ya reckon Niz? Confirmation enough for ya re the its different now, fundamental re-rating theory?

I'd say this is now established as a clear breakout above 6.4c, there should be very strong support at those levels,

I doubt we'll see south of 7c over the next few days

Yeh its a goer and a half.
Good pick.

Dont make a big fuss about the volumes.
Iv seen 100m+ volumes with WMT and MLS plenty of times. AUZ as well. The most recent 180m AUZ spike was actually an insto but they bought 33mil, so the other 150m was traders. Its also did 90-100m a few more times.

But dont let it get to you.
For example, YT, if its traders dont let that waver your fundamental view. Remember what happened last time...
Do yourself justice, just kick back, and enjoy the ride...

 

[YOUNG_TRADER]

Yeh its a goer and a half.
Good pick.

Dont make a big fuss about the volumes.
Iv seen 100m+ volumes with WMT and MLS plenty of times. AUZ as well. The most recent 180m AUZ spike was actually an insto but they bought 33mil, so the other 150m was traders. Its also did 90-100m a few more times.

But dont let it get to you.
For example, YT, if its traders dont let that waver your fundamental view. Remember what happened last time...
Do yourself justice, just kick back, and enjoy the ride...

Glad to hear it Niz,

But yeah, in no way does the actions of traders influence my fundamentals, its jsut strange isn't it,

Its been flat for ages 4.4c - 5c I value it at 15c-25c and it does over 200m in 2 days and moves up almost 100% weird huh

I guess my avatar sums up CUL yesterday and today!

 

[chris1983]

That wall of sellers around the 8 cent mark is getting chomped up slowly but surely. If it finishes extremely bullish again I would want to be holding for tomorrow morning. Just my own opinion..but like we mentioned before these type of volumes were seen with MLS and WMT and we know what price they went too.

 

[juw177]

Massive sell off in the last 10 minutes of the day to make it close similar to its opening price. Any comments on this?

 

[chris1983]

Not closing with as much strength atm..

heavy selloff nearing the close. Some panickers in there. Thats my opinion.

 

[chris1983]

The VWAP will be well above 7. So it will be interesting to see what the after market auction brings.

 

[YOUNG_TRADER]

Massive sell off in the last 10 minutes of the day to make it close similar to its opening price. Any comments on this?

Not closing with as much strength atm..

heavy selloff nearing the close. Some panickers in there. Thats my opinion.

The VWAP will be well above 7. So it will be interesting to see what the after market auction brings.

That sell order was huge, I think 10m or so!

The VWAP is 7.5c for today

My valuation of minimum 10c still holds firm

 

[stoxclimber]

Well guys, lets be realistic...do you think there is some secret fundamental information that was just revealed in the last 2 hours that just happened to coincide with the last two days of activity? My guess is traders cashing out

 

[doctorj]

Well guys, lets be realistic...do you think there is some secret fundamental information that was just revealed in the last 2 hours that just happened to coincide with the last two days of activity? My guess is traders cashing out

Equally, it could be said that none of YT's research was new and plenty of trading happened before his post.

These 'traders' cashing out shouldn't be scorned. Without them there wouldn't be the liquidity that attracts others. Liquidity has a price (or more importantly, the absence of it necessitates a discount). Most on this thread would be classified as traders.

No idea where this liquidity is coming from (it doesn't really matter), but if it is a single player or some sort of aligned group, then I wouldn't be surprised to see them to disappear at some point for a couple of days to force the traders, particularly the t+3s, to sell.

Interesting to watch - tape watchers had a few good scalping opportunities today.

 

[rub92me]

Well, you've had 150 million shares traded and the price didn't move. That is a lot of effort for no gain. I'd say there is a better than 70% chance that it will slide back tomorrow. Don't know how much. May not matter in a couple of weeks anyway unless you were daytrading it. Good luck everyone.

 

[Fool]

Well, you've had 150 million shares traded and the price didn't move. That is a lot of effort for no gain. I'd say there is a better than 70% chance that it will slide back tomorrow. Don't know how much. May not matter in a couple of weeks anyway unless you were daytrading it. Good luck everyone.

The more shares that shift, the less (I would hope) are available to be traded.

So with two days of serious volume, it's equally as likely that the available group of shares that can be traded is being depleted.

This could be confirmed with an updated top 20 list.

 

[YOUNG_TRADER]

I just checked the sell was actually multiple 1m sells with the biggest being 3.5m, looks to have been day traders, no biggie,


Rub we have held yesterdays gains and closed above 6.4c being the massive resistance level,

We have had over 2 days almost 250m traded at an avg of 6.4c and 7.5c so I'd say 7.1c easy

Thats 250m shares at a VWAP of 7.1c

50% OF THE ISSUE CAPITAL HAS CHANGED HANDS AT AN AVG OF 7.1C

I think its fair to say that CUL has been re-rated above 6.4c


Focus on the fundamentals guys

If most Iron Ore production plays trade on an EV multiple of $5/t Fe then why not CUL? as I have said $5/t Fe = 12c CUL

 

[chris1983]

Well, you've had 150 million shares traded and the price didn't move. That is a lot of effort for no gain. I'd say there is a better than 70% chance that it will slide back tomorrow. Don't know how much. May not matter in a couple of weeks anyway unless you were daytrading it. Good luck everyone.

Hmm dont know about that 70% chance of falling back..unless a few holders get spooked and think they could lose? This one has been undervalued for some time. If it does start falling back there would be a lot starting to take losses or there would be a lot on losses.

VWAP finished at 7.49 cents.

I would think it could open up at this level tomorrow if we get a decent day on the DOW. Then again even on a bad day it might run back up..I dont know what to think when these kind of volumes start going through.