Beach Energy Limited, page-487

It depends on your definition of "over bought"

I find it strange that "the market" makes up all these BS excuses such as over bought, over sold, fill the gap blah blah blah.

The BPT SP hit $2.92 and got down to a $1.00 or so most of it brought about by sentiment and some missteps by BPT but not all their fault.

As we move back towards fair value I would hardly call a 5% rise as "over bought".

The market is what it is, so no use crying over spilt milk, but it does highlight that their are forces out there with bigger and deeper pockets and when they feel it's time to make a move we will be a slave to their sentiment not out own.

Cheers
BW