I agree - ramping and pumping are just different names for the same behaviour. Fundies get involved in June, particularly towards the end of June because their June 30 numbers are the ones that designate their performance for the half and the full financial year, so they do some window dressing and try their hardest to get the stock prices as high as possible for the companies they hold, particularly the ones where they are sitting on losses but don't want to sell. However, any SP rises for any of the companies they hold is going to influence their numbers in a positive way, so it's understandable behaviour. Just something to be aware of. Beware of hot stock tips in June!!

Some fundies trying to ramp their holdings before the EOFY. One in particular is down big time for the FY, and brought in on SWF around 22c. 20% performance fees up for grabs. NO PERFORMANCE FEES TO WORRY ABOUT HERE......

I am not sure what the best way to describe this behavior by fund managers is. When I see it though I often wonder what their clients think, the ones that pay them the performance fees, or whether they are even aware of it. Should they be puzzled that fund managers who describe themselves taking a long term fundamental approach, spend plenty of time on the distractions of highlighting short term momentum factors at play?

Cash flow is difficult to predict, as it's hard to know if any additional spending has occurred, plus the revenue from cash from interest is at best a guess. Trade numbers and user growth is are a lot more predictable. It is hard to predict and I am always conservative so focus on the bottom of my range. But ~1 mil is not that ridiculous. The general consensus doesn't seem to think that number is possible so if they are even close to that, I would expect a positive reaction.