I hate to say it again...if residential house prices (at least in the most populated cities...which in itself is virtually a given ) continue there upward trajectory ...then this "freight train'' aint going to stop.
If this month's fairly solid support level of $7.60 is cracked then the bears are in control, and the sp could easily drop to $7 before Christmas.
If I was holding, which I know longer am, I'd be getting out soon after the next bounce off 7.60 (I'm guessing that this time it won't go higher than about 7.85 before falling away again - that's how I'm reading the chart...but like I say it's just a guess).
BC
To foretell the future, one must first unlock the secrets of the past.
Looks like it dipped down to 7.5 as someone dumped over half a mil. Back up to $7.60 now.
Yesterdays report was pretty good - were people really expecting more than that?
Market sentiment will never cease to amaze me. The reason for RYM's high PE Ratio is its certainty and predictability. i.e. You can count on it.
I was surprised with 22%. It was more than I was expecting, but not by much, I was expecting 20% and that in my view is a very good result, and I would have also been surprised too if it was any less than 15%.
So HS, your question is an excellent one. Just what were people expecting?... or is this a coincidental big-holder sell-off for some reason? By selling now, one foregoes the dividend that would be paid in about 3 weeks from now, so you can effectively add another 5 cents to drop in share price.
Are there overseas entities for instance that do not want a dividend for some reason (ie to avoid scrutiny or tax)? or has a big seller just sparked a herd mentality for a while? Will still be very interesting to see what happens next week.
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