Thanks for that response Slick. It really interests me.
Without getting into a complex discussion, is this anecdotal situation an argument for a trader to keep a weather eye open to basic short term fundamentals of a company they are interested in trading?
(IMO) you also correctly picked some overlying fundamentals based positives behind the BB.
[The BB was an ASX announced, fixed date commencement event, which had a high probability of a rapid SP escalation.
Once it became obvious (on Monday the ASX announced start date of that facility) that the BB had actually started, it would surely have been an ideal entry for traders (and perhaps shorters too).
The trick then would be to monitor the short term indicators for a safe but profitable exit point. In this respect the company MUST make a statement each day that shares are bought. We also know that, without an extension, the BB is restricted to 50m shares.]
NEU Price at posting:
$13.39 Sentiment: Hold Disclosure: Held
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