Yes it's sad, retail shareholders freely allowing themselves to be used as fodder. Nevertheless, their routine practice of train spotting moves in the price charts without some knowledge of the target company's worth is their real dilemma because it quickly leads to mob mentality. Joining the herd, if you like.
Right now, NPV is probably a fair basis for the floor price, however the way things are moving - rather, have been moving, for three weeks now, I'm inclined to think this will bounce to 50c sooner than we imagine. Once there, it might need a breather until some news emerges. Which I think it will, given the action of late.
Today saw a single XT for more than a million units take place, which sort of tells a story. A willing buyer/seller deal that happened an hour after the open. Also, the end of day close suggests three times as many shares are needed on the buy side than are on offer to sell, which is just great.
The only thing I will agree on with Vic is the new management paradigm seems to be working. Indeed, they appear to have been fleet of foot in sweeping up all this stuff mere punters have been throwing away.
CQT Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
