Last time Chandler built his position, he bought a decent percentage through JP Morgan and the stock moved from 55 to 75 over a few weeks. JP Morgan has been buying some stock today.
Today there is less IOC stock sloshing around that is not in strong hands. If Chandler is really going to 18%, he has 5 million MORE shares to buy.
IOC Longs - Get MAXIMUM long NOW, and let Chandler's buying move the stock up the next 10 - 20 points. Given the upcoming catalysts (T2, PNG govt approval, FID, sell down, etc.), this seems like a no-brainer.
Chandler reported today that he upped his EWC holdings to over 19%. I seriously doubt he will go to 18% on IOC though.
Weak hands in IOC? At this point how could there be any weak hands left? I guess there has probably been so smaller institutions selling recently, as this takes a strong stomach and lots of DD to stay on top of.
The only thing to move us will be NEC approval and SD . You will know whats happening by the PPS action. Its always been that way in IOC. Loose lips abound.