Watching Morning Trading and then reading Posts
posted on
Mar 14, 2008 08:55AM
I have NOT been able to establish a sound idea on the goings on so far today.
The RoF stocks got off to a very untypical start followed by a rather aggressive attack on Noront's SP. The expected response was slow in showing but did occur. Then the BNN show with a strong focus on the RoF. With the show over and very favorable reviews posted here the SP drops sharply from yesterdays close price to the low $6.00's again. The events all appear to be connected.
But, What was the rational?
The show was well advertised and well in advance of its scheduled time slot. The attack appears to have been well coordinated? The guests on the show were well rehearsed and very positive, up beat, and unchallenged in their views (according to what I read posted here) but as soon as the show is over the SP takes the sharp drop and is now settling into a new trading range.
What I am in wonder about is, Who is benefiting by the attack? It took a lot of selling (all in but a few minutes) to crash the SP down to $5.90, and the volume did not quite double on the steady push back up the the Open price.
Were those sells from $5.90 all the way back up to $6.15 panicked Investors? Who, keeping a colse watch on the SP would "Panic Sell"?
Can anyone propose a reasoned explanation for all the Trading up to Approximately 12:05 PM?
Old Joe
PS: Just wondering!