Not so happy Valentines Day yesterday with any bullish prospects totally wiped off the board, in the short term at least.
Conspiracy theories...
1. I've been wondering for the past week or two if the constant smashing down of PSY sp as soon as it shows any signs of life is a deliberate (and hostile) action carried out by the disgruntled US fund manager after rejection of their offer....
((Scorpio7174 said "One particular broker is a standout net seller over the last month, Pershing. These guys clear for many overseas and local broking firms so its impossible to say who they are acting for, although they are prevalent in US based funds management and broking activity. What does this all mean? My suggestion is that someone is attempting to drive the SP lower for an as yet unknown reason."))
OR
2. An even worse scenario, are the PSY directors in on this and in agreement to let the price be decimated down (by US fund managers) to a pre-arranged price and thereafter PSY announces to shareholders the terms of the "new" agreement?
Then my next question is... if this is the case, is this legal?
If the ASX issues speeding tickets when stocks are going up (on no announcement), then shouldn't there be an inquiry made when the price is blatantly being hammered down?
(Not so silly after all) Serena asks some pertinent questions - ie why don't the PSY directors disclose the name of the US fund and terms of the rejected offer so shareholders are kept in the loop and can make their own judgement. Not sure why you haven't called PSY yourself Serena?
If after all this, PSY gets into bed with these same guys (dodgy US fund managers) how many unsuspecting shareholders have been burnt because they weren't kept informed?
Monday is crunch day for me, my entry price is now looming and like you eMark and others, don't know if I should exit now and get in on a lower price (assuming it goes lower) then wake up one morning to find the s/price opening at blunkin' 20c or higher? Or ride the storm as is my normal trading practice... grrr.
Not so HappyDayze... lol
PSY Price at posting:
7.4¢ Sentiment: LT Buy Disclosure: Held
