Like sheep hearding exercise after good news on TSX?Opinion: Do I like what happened today - no .. do I appreciate the "science" of how this was market SP downturn was done ???
Market opens at 9:30 am and stock starts movng up from $ 2.36 .... large block of shares then appears on the ask placed at
$ 2.40 ... market tries to eat into the block -but just too many shares - then more stocks are bought at the $ 2.40 ask price and the ask levels start going down - next many more shares at the 2.40 ask appear and stop the upward momentum .... few minutes later the bid and ask number of lots starts decreasing down to $ 2.38 - $ 2.39 ... and then the bounce lower begins as folks realize the SP is not going up after the good news as many readers on this site think it should have ....
In the future it could be nice if large bid blocks are lined up to blow through these opening ask barriers that someone(s) appear to be putting up after each round of good news announcements ...also where were all the big commercial investor buyers today after the good news??
soxman made a good point today on the light LUC trading levels in the morning on the TSX
I don't think analysts covering Lucara Diamonds that we haven't heard from recently can ignore the latest positive news - and we should see significant increase in their Target SPs
Next up is third quarter result news next month and now that Lucara Mgmt team knows the total from exceptional diamond tenders - I hope they don't wait until year end to announce the special dividend
-DS