CUL - Cullen Resources

Ruprect · 28 June 2007

It has almost stood still for the last 20mins settling in the 6.7-6.9 range, which can often mean that the sellers have dried up to a large extent, and buyers are just waiting to see what happens, watching carefully for someone to make their move.

Sean K · 28 June 2007

YOUNG_TRADER said:
But for now what do you guys make of Macquarie Insto buying only 2m? That seems tiny....

2 mil before yesterday was about the daily average wasn't it, so it's not insignificant. But $80-100K for an insto is pretty small fry so maybe nothing to get excited about at this stage. They have to put their money somewhere. Still, an investment is an investment. Are you thinking someone might be taking a position? Would need to be more around the $1m mark for a start wouldn't it?

kamil · 28 June 2007

Strong support has formed between 6.0c and 6.4c, lots of people keen to get onboard/topup, looks good.

YOUNG_TRADER · 28 June 2007

kennas said:
2 mil before yesterday was about the daily average wasn't it, so it's not insignificant. But $80-100K for an insto is pretty small fry so maybe nothing to get excited about at this stage. They have to put their money somewhere. Still, an investment is an investment. Are you thinking someone might be taking a position? Would need to be more around the $1m mark for a start wouldn't it?

2m was all they bought over the last 4weeks or so, thats piss poor, I hold wayyy more than that, I just don't get why an Insto would buy 2m shares, I mean your right their minimum position is $1m, not $100k

vert · 28 June 2007

kamil said:
Strong support has formed between 6.0c and 6.4c, lots of people keen to get onboard/topup, looks good.

and a bounce of fib 38.2% is good support to and is around the last highs, looks like the buyers are soaking up all the sellers at the moment

Fool · 28 June 2007

I would take a punt and say there is more then one of us here accumulating at these prices?

I was lucky enough to get some filled at the opening dip of 6.3c

YOUNG_TRADER · 28 June 2007

Did you guys see that?

A 2m+ order snapped up every share over 7c

Another 1m at 7c

Theres some serious buying here!

UPKA · 28 June 2007

YOUNG_TRADER said:
Did you guys see that?

A 2m+ order snapped up every share over 7c

Another 1m at 7c

Theres some serious buying here!

i think its a big gun accumulating, we could see more of that in the coming days, as CUL is on everyone's radar, soon the sellers will run dry...

Fool · 28 June 2007

UPKA said:
i think its a big gun accumulating, we could see more of that in the coming days, as CUL is on everyone's radar, soon the sellers will run dry...

Can someone running pro trader (or equiv) post the sell and buy side totals?

Interested to see if there is more sellers then buyers atm

YOUNG_TRADER · 28 June 2007

YOUNG_TRADER said:
Did you guys see that?

A 2m+ order snapped up every share over 7c

Another 1m at 7c

Theres some serious buying here!

UPKA said:
i think its a big gun accumulating, we could see more of that in the coming days, as CUL is on everyone's radar, soon the sellers will run dry...

Somethings up those buys came offscreen, but they were met with sellers too,

I think the retrace is unlikely, or pump and dump,

We've had 30m+ at a VWAP of 6.8c

Yesterday 95m at a VWAP of 6.4c

So collectively 125m at VWAP of 6.5c

prawn_86 · 28 June 2007

hey YT, your stalker Followme has now taken to copying and pasting your research, pity you cant do something about it

as for big buying, how often have we seen it lately with FNT and FWL to not see any change in substantial holding statements. not to say its not happening but lets not get our hopes too high lol

YOUNG_TRADER · 28 June 2007

Fool said:
Can someone running pro trader (or equiv) post the sell and buy side totals?

Interested to see if there is more sellers then buyers atm

Well using 7c as medium and going 1.5c in either direction

There's just under 15m buying above 5.5c vs 8.5m selling up to 8.5c

nizar · 28 June 2007

Its really struggling at the minute.
It'll be interesting to see if she can manage a higher high than yesterday and a white candle close.
That would be really bullish.

If not -- then maybe it will be like those others pumps&dumps of the last few years. Maybe.

YOUNG_TRADER · 28 June 2007

nizar said:
Its really struggling at the minute.
It'll be interesting to see if she can manage a higher high than yesterday and a white candle close.
That would be really bullish.

If not -- then maybe it will be like those others pumps&dumps of the last few years. Maybe.

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

prawn_86 · 28 June 2007

YOUNG_TRADER said:
I'm happy to see this consolidation

yeh i would much rather see a day or 2 consolidation than it running hard again today and a heap of traders getting on board which would then cause dramatic price movements.

any support above 6c and im happy

chris1983 · 28 June 2007

Starting to really move now fellas. Maybe everyone is just realising the potential of CUL?. Or there is something up. The response to the query has lead people to believe nothing has changed though...hmm. 45 million volume again today.

jammin · 28 June 2007

Ruprect said:
It has almost stood still for the last 20mins settling in the 6.7-6.9 range, which can often mean that the sellers have dried up to a large extent, and buyers are just waiting to see what happens, watching carefully for someone to make their move.

Interesting observation Ruprect, this pattern (no trades followed by rise in SP) can be seen a couple of times so far today, namely 11:15 to 11:30 , and again 12:00 to aprox 12:10.
Thanks for the insight, it came at a fortuitous time. I was of the mindset the SP was drifting down and about to stop me out.

chicken · 28 June 2007

Got in 1st thing this morning at 0.069 cents......feel this might be a goer...got only 100k but little fish are sweet...big volume....

YOUNG_TRADER · 28 June 2007

YOUNG_TRADER said:
Did you guys see that?

A 2m+ order snapped up every share over 7c

Another 1m at 7c

Theres some serious buying here!

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

Santoro · 28 June 2007

Looks like whoever was buying up hard has stopped for lunch. Pretty intense watching that action...hope they come back later...https://www.aussiestockforums.com/forums/images/smilies/wink.gif

CUL - Cullen Resources

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