I may be chasing shadows here but am interested in this:
On Tuesday, the price of BGF jumped on high volume to 20c, with minimal justification (some stock broker placed a buy on BGF but it wasn't widely reported).
Suddenly large volumes of sell bids appear at 20c (total of 6million or so which NEVER appears on this stock - high is usually 1.5million).
On Wednesday, BGF press release saying increase in gold reserves of 57%. Thats 57% mind you, an increase by over half of the current gold reserve levels, not just some pissy 5% or so.
Price actually falls to 19.5c (19c close was too small volume to worry about).
Now the first suspicion would be that the news leaked and those in the know got in on Tuesday. But then why would these people stack up 6million at 20c? That doesn't make sense. This announcement could easily allow the SP to easily run to 24c or so. The people in the know would be smart enough to let things run for a while.
Options expire Thursday. Could this be larger option players trying to minimise damage from a high BGF price?
I wonder if any of these 20c bids will disappear?