selling on a bullish announcement, page-2

Unfortunately, there are a large amount of 'investors' out there who have very little idea about what's actually going on in the company. You'd be surprised at how many of these investors have NO IDEA about what sector a company is in even! Apart from the three letter ASX code, they have nothing. As soon as a stock price hits their stop profit, they sell. We'll just have to wait it out till these people empty their holdings - once they're gone, buckle your seatbelts.

Of course, others may sell for tax reasons, to fund personal endeavours, etc.