The CEO of Yamada Green Resources bought 2,350,000 shares for S$188,916.50 yesterday, ie , 8.03 cents a share on average. It's a very positive signal. Let's see if he continues to buy --- today, or in the near term.
Tomorrow is the last day for subscription of Yamada rights. I think more shareholders will subscribe after seeing the mother share rise from 7+ to 9+ cents currently.
They could also sell some mother shares to pay for the exercise price of the right. Bottomline -- next week, is a better gauge of the share price dynamics after we get over the rights issue period.
Global crude prices jumped nearly 6 percent on Wednesday, after the largest crude drawdown in 7 months at the key U.S. crude delivery point in Cushing, Oklahoma fed a new round of market volatility.
Oil bulls were also encouraged by doubts on whether the Federal Reserve will decide on a U.S. rate hike on Thursday after tame August inflation data.
Some speculators in oil had bet on a big U.S. draw since Monday, after market intelligence firm Genscape estimated a drawdown of 1.8 million barrels in Cushing.
Official data from the U.S. Energy Information Administration showed a total U.S. inventory drop of 2.1 million barrels for the week ended Sept. 11. The Cushing draw itself was 1.9 million, the largest since the week ended Aug. 28.
The draw numbers were bullish beyond average analysts' forecasts. A Reuters poll called for a total stockpile growth of 1.2 million barrels last week.
Anyone noticed the spate of insider buying, and feel a sense of urgency to buy YAMADA GREEN RESOURCES? CEO bought, ID bought, Sam Goi bought. What is going through their minds?
One of the few in green today....TTJ Holdings +1.5 cents -->38.5 cents. Vol. is 60.5 m as of mid this afternoon, very massive because of a 54.7 m share married deal this morning. A new substantial shareholder has entered the stock.
