Good in theory but you have to understand trader's mindsets. They want to take profits and so they use opportunities like announcements to sell into what they hope will be an enthused buying surge.
Buy on rumour, sell on fact is their mantra.
Today's announcement of a speeding ticket was probably frustrating for them and many have said "stuff this, it's been three days already" and they are selling.
Well that's fine, that's what they do and I guess any profit is a good one be it ever so small.
Having said all that, forget 3.70.
Think 10.70 or 14.70 because it will all come to you if you are prepared to wait. The asset is larger and worth a very large sum on the world stage but the ASX traders won't recognise that until it is too late.
EXT Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
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