Slogger,
the point I was making was that the bounce may well be shorters taking profits and closing off before results.
I think the SP has over reacted as I posted elsewhere, so I don't see a sell trade into results but if there is another negative comes out in the results and divvy / telecon then the shorters will certainly go in strong again.
We have seen that ACR management are not very good at managing this type of risk, so I have been contemplating what price I would sell at today to avoid the next tsunami if things are sour again.
The market through results season have been voting based on results / outlook and divvy. ACR are +/-/- on those 3 criteria, so an overall negative. This is now actually making me feel a little more bearish and wondering to what extent the price already more than includes that outcome.
I think I might sell half? - what do you think?
The lesson from yesterday was that we ALL should have sold on the announcement and bought back at 40c, for a 20c gain to offset against the 40c loss in recent weeks.
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