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Some institutions buying in some getting out....fairly large gyrations daily.....I wonder when sellers have finally sold out....
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Yeah, it began well on NZX this morning after crossing $5 and slowly drifted down as ASX opened. Guess most of the direction is coming from ASX.
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Banned
 Originally Posted by sb9
Seems relatively chunky too, $100 mill is decent.
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Originally Posted by Coles Killer
Seems relatively chunky too, $100 mill is decent.
Certainly, this should retrace the sp back into $6 mark in the near term.
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Banned
Going to be interesting to see what happens without the influence of Origin on the board, will there be some blood letting in the board / management team, other than Mr Pryke?
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Originally Posted by Coles Killer
Going to be interesting to see what happens without the influence of Origin on the board, will there be some blood letting in the board / management team, other than Mr Pryke?
Certainly looks that way. I noticed that David Baldwin has sold all of his shares.
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Originally Posted by sb9
Certainly, this should retrace the sp back into $6 mark in the near term.
Buybacks really do seem to be a transfer of wealth from shareholders who hold on to shareholders they sell out. Price just jumped 3% and the buying hasn't even started yet.
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Originally Posted by Coles Killer
Seems relatively chunky too, $100 mill is decent.
Agree
Their is great potential for a big lift in the sp in the next few months.
A drought and high spot prices looks on the cards.
Could soon be a drought of sellers soon-once those big aussie institutions stop trying to make big profits from their shares obtained from origin.
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Banned
Yeah those institutions selling out must be weighing on the sp somewhat, as its hard to understand why Contact is sitting stubbornly at $5 otherwise. I do enjoy your optimism fish! But I wouldn't hazard a guess as to what's going to happen with the hydrology just yet. Ok El Nino, but the national storage at the moment is looking average, inflows are slightly lower than average but they tend to fluctuate quite a bit anyway.
http://www.electricityinfo.co.nz/comitFta/ftaPage.hydrology
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