i be very surprised if they kept just chasing the price higher and higher
Problem with stock like MEL people just sit forever and never sell until wham fund needs volume. Blackrock only has 6.076% and a new ceiling for SP has been set.......They can't package and sell what they don't have
Problem with stock like MEL people just sit forever and never sell until wham fund needs volume. Blackrock only has 6.076% and a new ceiling for SP has been set.......They can't package and sell what they don't have
if your buying now , you better hope the price dont fall cause it take many years to get your capital back. im the reverse thinking sold to get the capital gain as it was many years of divs. if it takes a year or two to fall back to sensible levels i still be well ahead. i will only lose if it goes heaps higher and stays there
I have some MEL shares brought way back during the IPO. I've been keeping zero track of what is going on with these shares.
My question is why is MEL bouncing up and down so much? It seems very volilate for what I guessed was a boring energy company.
I guess that covid and measures introduced to cope with covid has meant that just about no shareholding is boring at the moment. In addition, if a major customer is in supposed existential angst, that makes it more "interesting"!
Problem with stock like MEL people just sit forever and never sell until wham fund needs volume. Blackrock only has 6.076% and a new ceiling for SP has been set.......They can't package and sell what they don't have
Why we assume they cant change the composition or introduce more stocks to their fund ICLN ...it can always change weightage of holdings and add to list of its holdings ??
Its surprising they are chasing same stocks to bubble levels or unjustified valuations with full knowledge of results of their activity . Unless they know something or think they know something ...it seems like it suits them creating a bubble in their own fund ICLN ...its adding 6-8 million units almost everyday in new issues !!
5 billion fund ...10% in these two MEL / CEN ...just translates in 500 million and that results in MEL p/e reach 130 and market cap almost 25 Billion ...
Big question is why they let it unfold like this ...simple answer seems as they wanted it this way ...thats why included NZ stocks with high weightage in the fund to boost its NAV by this cycle of new money chasing returns which comes from ICLN's need to chase these stocks because of new funds pouring into it !!
After a big drop this morning the usual buying accumulation has appeared on the depth in the last 30mins. Around 8m new ICLN units were issued on Friday (US time). Expecting a grind upwards from here into the close. Won't hold overnight as expect a reasonable chance of consolidation on ICLN tonight.
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