The market simply disagrees with you. Gone up 6% since you...

The market simply disagrees with you. Gone up 6% since you posted!

You're right, it is easy to forget the object of the argument. It doesn't matter what anyone thinks, riding the price trend is all that matters.

One of the main reasons for the Qantas support would appear to be that its majority American shareholders know that airlines their have been powering on now for sometime, and Qantas is ridiculously cheap by their standards. Eg.
Southwest was around $8 two years ago, it closed at $33.87 today. + 423%
American was at $24 two years ago, today's close just under $40, + 66%
American code shares with Qantas.
United was at $20, now $51.90. + 160%

Qantas was $1.34, now $1.585, which is equal to its one year high price.
So its not hard to see support from Franklin and other American funds.

The share price appears to be way off beam in relation to the fundamentals, which is a point I often make when people over-analyse fundamentals and expect the price to follow. The share price leads, so who knows what is around the corner. Obviously if the company was broken up its parts would equal a lot more than the current market cap, so maybe that's what the market is expecting. I've thought that for ages, and posted it here.