I will be first to put my hand up and say that the SP roller coaster has distressed me at times.
With all the talk of manipulation that has permeated the thread for months on end, i think a healthy dose of paranoia has become toxic.
MS roadshow with Caplin report in hand, if favoured by the Insto's will see them buying at market if there is to be no more placements. To do this they will manipulate the price to take advantage of any weaknesses. This in part may be happening now by these Insto's as to get a foothold. I dont know, just a thought ! If this where true then long term you would have to say it is a good thing.
On the other hand there are those that will sensibly protect their capital in the short term because they are not long term holders. Not by agenda but choice.
The SP movement is erratic and the much appreciated price directions and estimates have proven fruitless on both the fundamental and technical sides.
IMO the market is doing what it does, a mix of short termers exiting, speculators buying, and big boys or girls playing the numbers game prior to take off.
You have to decide whether you are prepared to give up your gains/ loses for the short term, take advantage or plainly ignore the current state of play.
All the best and have a great weekend.
Bacchus
CVI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
