It means testing the upper limits ...trying to find out where maximum it can go without any positive news !!
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Shorters now just have to hope that the results miss guidance. I'm personally surprised with the uptick in the share price, which I can only put down to the signing of the upgraded trade agreement. This agreement was basically done and dusted and announced last November, so I would have thought it was already priced into the SP. Obviously the market was waiting for pen to paper.
If guidance is achieved, even the lower end of the range given, the SP will head north again, and at that point shorters will have missed out on a decent % of profit, had they locked in those profits at recent lows. Is this a case of bigger risk, less reward?
"Is "micro base" really a thing?"
it not on any web site but it's taking license...
U need to wait for August results to see guidance missed or not as this upcoming Feb HY results will be 670 mil as informed on 18th Dec ...that cant change too much in 14 days . Market will look for either some positive statement or upgrade of FY guidance to move . If they keep quite on both these subjects then its safe to assume nothing much changed after 18th Dec announcement
I must admit, Left Field, that I like the price of shares I own to go up. Logically though, unless you are keen to sell, there is no financial reason to want the price to go up and the lower it goes the better, as there is more opportunity to buy at a discount to what you think it is worth. Psychologically we want the price to go up to confirm our wisdom about what we think the price should be.
You are not alone...most of us like upwards movements in SP (unless you're a shorter)
I guess what we have been talking about is 'picking the bottom' of a downtrend because at some stage a 'sell' often becomes a 'buy'.
I'm not prepared to call this the 'bottom' and will leave that to others as I'm already over represented in ATM and am happy to hold what I have for the long term.
For others wanting some bargain ATM in their portfolio, I'm sure there will come a time.
Will be interesting to see when the shorts start to cover, after all they have approx 60 million shares to purchase to close their positions, close to $700 million NZD's worth. Thats a decent number of trading days even if average volume traded doubled or tripled.
Personally I’d prefer they didn’t, I feel the share price will recover without that intervention.
I guess the time will come when the cash on hand reaches a level which warrants commencement of a dividend, but I’d prefer they invest the money in acquisitions which will provide future growth.
That being said, it’s all very well for them to say they can invest the money more wisely than shareholders for a better return, but it’s yet to be seen what they intend to spend it on. The Mataura valley purchase and consumer packaging expansion barely dents the cash on hand, considering it was $850+ million at last update, and has likely increased since the last annual report.
what is the ratio of containers going back to china empty or full of exports. it appears US exports have been left on the docks since july, 3 in 4 containers are back to china empty as china takes it containers back as fast as it can.
I'm in a skeptical mood about the capacity of TA to predict anything. You can tell what the sentiment was and maybe that can be useful in trying to guess what the sentiment will be (like the weather, if it was raining an hour ago there is a better than average probability that it will be raining in an hours time) but that is the most you can get out of reading the tea leaves, is it not? There is momentum in one direction untill enough people change their silly minds and then there is momentum in the other direction for a while.
TA works well for me (most of the time)..... must say I haven't tried tea leaves. Prefer coffee.
Each to his/her own.
Meanwhile some deck chair shuffling at A2. Susan Massasso leaving..... but not really leaving 'cos she will stay on as an 'advisor' (no doubt a well paid advisor.) Interesting times.
Meanwhile interesting times for funds funding shorters.
its everything... the Baltic D.
the empty containers...
the defaults in the BM's.
Confused why you guys are trying to read tea leaves when theres an important announcement that we’re losing our Susan.
almost as bad as losing Geoff
yes, must admit today’s news is good. Last years news suggested she was leaving completely. Today’s news reaffirms she’s remaining in an advisory capacity.
I expect when the new CEO starts, he will most likely want to bring some of his own people on, this happens in most large organisations with a change of CEO.