"Yes, but rocket like rises from a market low are often followed by a big reaction in the other direction. Markets don't travel just in one straight line"
Would you please have a look at FKP chart for the last year, the share price in october 2008 was around $3 while just within five months to below 25c.
Markets have been traveling in one direction and in almost one strait line for more than 12 months (up to april 2009), looking at the price range within the last 52 weeks can tell you how fast the collapse was!!
Dont you agree that the rally during the last few months is not as fast as the collapse we witnessed a year ago!
Using the word "correction" implies that there is something wrong and it should be corrected. FKP's NTA post capital raising is $1.22 and gearing fell to 28%, also there is the possiblity of a take over. Looking at all these facts i cant understand why FKP is still below $1!(its market irrationality of course)
FKP Price at posting:
58.6¢ Sentiment: Buy Disclosure: Held
