Addax Petroleum (fka AXC)

[Strategyone]

Seek....

There is also a noticeable difference in the CN holders selling now than last year. I have had numerous buy orders in place over the past two weeks starting at the bid. I would let them sit for several hours to see if the CN holders would sell down to them. I then moved my bid by .0002 above their and as soon as my order was placed, the bid would move to just above my bid. This went on for days. I occasionally would just place a order at the ask to pick up a specific number of shares. That is the only way my buys went through.

The CN holders either know there is a limited supply left (getting towards the end of their shares for sale) or they assume the price will be rising into this drilling event. I seriously doubt they follow the company in reality so I am betting it is the former.

Exciting times ahead... I guess we are about half way to total depth or so.