massive drop, page-6

both sectors were seen as overpriced as somone else mentioned.

but also US and Aus funds tend to take profits sometime in april in order to lock in june 30 profits for their client reporting.

So its common for this to be a time for market pullbacks/corrections globally.

ipp is at least profitable - not many tech stocks can say that. and its now down 35% approx. from its highs.

key is its big run from feb started at around 2.40. SO around these levels (2.40-2.60) will be its true 'support' level as
a) there are no more profits to take for the shorter term investors
b) those who took profits from $4 down will likely start buying back here.

but its going to be a while probably before the funds switch back to growth stocks - which is when the tech space will pop again.

none of the share price action has anything to do with the company itself.

all tech boats are on the same tide at the moment.