Cashngrab - no - It obviously hasn't gone down - I think the reasons for the strength in the individual stock are unsound, and I think the stock is overvalued from a fundamental perspective, but the market often disagrees with me. Southern Cross possibly distancing itself from Ten is bad, as they obviously help subsidise Ten's costs of production.
I have noticed that buyers appear to be getting excited at around midday for some reason, and sellers get keen into the end of the day. Usually this is a sign of a stock that will weaken, as bidding like crazy at lunchtime has aspects of insanity attached to it, as there are less sellers while big traders are out nibbling their lunch - you pay more. So it is possibly a stunt. Traders are trying to move the SP upwards. After this the close has been relatively weak. This has profitable for me on a daily basis luckily, but I am maintaining a longer term short as well - and will see what happens.
TEN Price at posting:
37.0¢ Sentiment: Sell Disclosure: Held
