RE:RE:RE:RE:RE:Price dropphigment wrote: How can that happen?
If somebody has a lot of shares and just dumps them on the market all at once at a key point.
Yesterday for example, the SP closed below the bottom bolinger band. After that happens, stocks often have an up or down movement. (many people trade on technicals alone)
Today's drop was due to an offloading of 150K shares.. that's only $100K.
I'm guessing somebody was willing to dump the shares in hopes that it would trigger some stop losses or scare other people in to selling. Then they'll pick up the shares they just dumped at a lower price.
Exactly. And this game is always played if there is some uncertainty in the market and/or nothing happening for a long time. PE is late with their PEA and they bought some land from Cypress. That they bought the land is not necessarily bad but it could mean that they so far did not find enough Lithium to make mining economically feasible. This together with running late make people uncertain and can be easily "motiviated" to sell (or at least hit the stop losses).
Anyway, the volume is pretty low so I am not worried and the shares I have left are free carried anyway. So I will just sit tight. If we get into the 50s again I will probably buy some more as there is strong support in the 50s.