Small / Spec shares... These have been pushing down over the last few months (and some over the majority of last year)..
Similar to what happened in 2008, there was a push from recent lows which trapped a lot of people as these sold off a short time after. It is just a few traders manipulating the prices of cheap stocks to get a large percentage gain.
If you intend to invest into this segment of the market, then take profits early (and larger than normal) or be careful of a further drop.
As a side note, the XJO isn't looking strong. There is support around 7415 (+/- 5) short term intraday, with a next level around 7380 (+/- 10). The next level is around 7320.
XJO - Bear Posts only (Factors which might cause the markets to fall), page-25
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Last
8,505.5 |
Change
-18.200(0.21%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,523.7 | 8,526.5 | 8,462.7 |
| XJO (ASX) Chart |