Trading ManeuversJust checking in on our precious IVW, and I noticed some late day walking down activity with old friends 'Anonymous' and TDW, tag-teaming IVW to bend it down, into the close. This is prototypical, on a relatively low volume day, taking advantage of slower pace of trading to maneuver the price of shares over the short run.
Of course, we are now in a new, and much higher, trading range for IVW, and the low end in about 1.85 or so, which has been hit a few times over the past 2 weeks or so, with the high at 2.09, first hit on huge volume of 6.4 million on 2/11/05.
It seems this is the rhythm for IVW, big runs on big volume, followed by meandering in a new trading range.
Today, a very wide trading range of day high at 1.97 and day low, with engineered close, at the low of 1.85, but a measly 130K+ shares traded. Confirmation of price trend has been on big up days with huge volume, not the kind of pedestrian volumes today.
I don't really fault the brokers who attempt manipulation of price short term, I've done it myself for fun at times, LOL.
There will be further attempts, it appears, to broaden the trading range for IVW, so as to allow preferred clients, who were a dollar late(literally) and a few days short, to squeeze into the IVW party, at a more palitable, and lower end of new trade range, price.
Will the johnnie come lately's get their wishes fulfilled, on any significant volume? I doubt it, with IVW's fundamentals. I'd bet there are large potential buyers on any further slippage in price, so more competition for less available shares, with a tighter grip on shares for those who understand the potential, as we go forward to production, sales, and perhaps, additional inventories discovered.
Lead prices hitting new highs for the year, and the 5 year lead price chart is a thing of beauty. Inventories in London descending below the pre-Singapore levels.
I have some new year cash around and will be a buyer on any weakness here, even though I probably have enough lead to sink one of those love boats I saw in Puerto Vallarta, some of the recent family trip courtesy of IVW. Thank you, Ivernia, and, as always, best regards to IVW investors.
vocex1