"I don't believe the whole market is down that much. If i'm wrong I apologise."
It's about on par. LNC, smashed from $2.50 to 90c. BHP from $39 to $30. FMG from $5 to $2.90, OZL $8 to $4. This is all even with a sinking dollar which results in profit upgrades for all of the above by a nice 10% or so, Chinese government propping up IO prices etc.
The fact is, people are fleeing the australian market because it's a political risk. Look at our market, the worst performing out of all the major exchanges. Get used to it, fundamentals are going out the window and no longer mean jack. Hedge funds, HFTs and the labor government have killed off any trust in our industry. Look overseas, I won't be putting any more money into this market. It's dead dog with fleas
It's a shame for juniors with real potential like CTP, but even upgraded profits can't save the sinking ship that is the ASX.
CTP Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
