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24/08/16
14:31
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Originally posted by denbo
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SP seems to be turning back - just returned to .535 as I write this.
I'm wondering if selloff was from holders who was expecting to cash-in based on a brilliant result.
But, as the guidance wasn't as brilliant as they was hoping for, I think they see the indication from this morning indicates recovery is going to take a lot longer that they was punting on - FOGF happened and they sold.
By the very nature of this SP, which is at the whims and fancies of the manipulators, I can't see anyone falling over themselves to buy until the upward trend show stability. This is a day-traders delight right now.
Then FOMO happens and it starts all over again.
About 32 million have changed hands so far, so the volume WAS there but, right now, there's not many real buyers - and the sellers who are left don't seem to be selling off cheap.
Surprisingly I'm going to call close today will be back in high .50's.
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Reminds me of CBA drop when they reported good profit instead of astronomical profit. Shake the tree hard so we can move on 'cause this train has steam now.