Sherlock, market behaviour is hard to comprehend full stop. The Australian market has been very gun shy on spec stocks since 2008 and does not really seem to be recovering from a psychological point of view.
Theres a lot of ignorant money chasing get rich quick scenarios which tend to be destroyed by delays as we have experienced with Neon, to say nothing of the over reaction to the 120 announcement.
The greater the proportion of holdings in desperate hands (leveraged, credit card positions, far too big a holding verses individual wealth, no plan to buy/hold/sell, poorly researched etc etc) the greater the propensity for volatility.
That volatility provides great scope for those more used to these reactions to take multiple small profits which is quite an effective strategy in its own right.
Personally I am here for Cua-Lo, the ups and downs are just background noise until the big day.
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