the 200k sell order at 30 cent disappeared in afternoon trade today.
I have been doing some charting on this one, and i am amature, but there looks to be the possibility that we may see a little spike back to 30 cents possibly. with the capital raising i see no reason for it go over it on no news.
On another note i have gone through the susbtancial holdings since floating, and the majority of holders have doubled there stack or at least added to it.
Now i am no expert but you would presume that the top 20 shareholders have a lot more of an idea what is going on than the everyday blow joe who is selling small orders.
Interesting to note that in the annual report 80 % of the stock was controlled by shareholders with a stake of 100,000 shares or more.
17% of the stock was controlled by thoses with 10,000 shares to 100,000 shares.
In total there were 731 shareholders.
THE SHARE PRICE WEAKNESS OF LATE could be due to 500,000 shares being led out of escrow. during the september and october months.
I have definatley seen an increase in the number of 100,000 plus sell orders on market, but also an increase in the number 100,000 + buy orders on the market.
I expect once these escrowed shares are absorbed by the big players, then we may see a similar market depth to previous where the sell side thins out a little.
I have seen no panic selling on this stock of late.
350,000 is now the 20th biggest shareholder. maybe a little out of my reach now unless it drops below 20 cents. unlikely.
I am very keen to see how the 2008 year pans out.