Kinda sums up the situation perfectly, a picture speaks a thousand words.
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my view... CEO actions don't look great, but the market's reaction indicated that the market was ready for a fall. If there had been plenty of fresh buyers, they would have bought. But I suspect all the passive funds were in, all the trend-followers were in, all the quick-buck punters were in or gone.. Personally, I've had a terrible time with ATM this year, but i don't blame the market for that. I'm surprised at the way the share price keeps coming off, but that's telling us something. Buying in the low $10 area should make sense, but there's a horrible chart pattern that says it $10.00 goes then it's $7.50 next stop..
$7.5 would equate to a trailing p/e of around 25, still implying very high growth is priced in.
Talking it down won't do it any good either.
well nobody seems to want to sell this am.Just 18k shares sold price $10.60 with the next seller at $10.80.Can't be waiting on aussie again!!
agreed, it does seem unlikely. however, I try to go through what-if scenarios and try to figure out what their impact might be.. eg what if US markets took a big fall (like they can do in October..) and spooked markets here? what if some more bad news came out of China re: daigou? what if ATM exited an index for next re-balance and some of the passives had to reverse and sell..?
never had any good thing after joining index, we see what happens when ATM exits the index.
That $9.50 gap is not too far away.
Fundamentals .... yeah right.