IMO think the market was hoping for more from this TH. We didn't get the "ML issued" announcement that was expected. A decree to issue it is a good thing, but I'd rather they'd simply granted it.
Not much has really changed since last week when we were of the belief that the gov. will issue the ML some day soon. Here we are today thinking that it will be even sooner now, but like last week, we still don't have it.
Today's drop in SP reflects the couple of red days missed when AVZ was in trading halt - we're playing catch up to where we'd have been if there'd been no trading halt. Factor in a bit of panic because some nervous nellies expecting a massive jump in price today are now fretting and you get what we see in today's price drop. Shorters are just taking advantage of this.
On the positive side, we can hope for an announcement in the next couple of days stating that the ML has been formally awarded... the announcement that we hoped to have received this morning.
AVZ Price at posting:
91.5¢ Sentiment: Hold Disclosure: Held
