Sorry
@Golden FleeceMy opinion. It was a sell short term. Changed to buy if you can at these levels.
The cause of it is in 4 days the price of thermal coal has retreated from 160 to 139 in a week.
Substitute energy (Oil) has fallen off a cliff in the same period
AUS dollar has fallen from the start of the week and is now ever so slowly climbing.
Personally I think NHC is worth buying based on what their pipeline and the upcoming 30 c dividend.
I was just looking for a bite.
No hard feelings.
I notice though last night that thermal coal stock index in the US was up just over 2% so it is very unusual to see a huge sell down.
Very recent publications may not help either. Today! So it might just be noise but most definitely algo trading at it's best today.
https://hotcopper.com.au/threads/potential-daunia-aquisition.7500628/page-380?post_id=70209278
(20min delay)