No doubt another ugly day. My guess is some people have a price...

No doubt another ugly day. My guess is some people have a price locked in their mind that they're not willing to see the SP drop below and are selling - although having said that we saw about 1% of the shares on issue being traded today. In that sense a closing price is like an opinion poll, it tells you what a small group of people think about a particular issue at any point in time. The price was also subject to some momentum selling as the day progressed. It's difficult to complain about momentum selling when the opposite is momentum buying - different sides of the same coin - can't have one without the other.

The momentum buying confirms our investment decisions and research so it appears entirely logical and sensible, whereas the momentum selling appears illogical for the same reason. What it proves is how subjective investing is in any one company is. Everyone has different entry points, different motivations and different investment plans and strategies.

Like a lot of people here my investment strategy with EXR is longer term. That doesn't make it easy to watch a significant drop in your paper gains. We know from previous experience that people will panic sell, or get plain fed up and sell. If you go to the EXR threads from 2019 you don't see too many of the same faces commenting that were at the time. The top 20 has also had significant turnover - so the current sellers are certainly not on their own - they won't be the first to rotate in, or out of EXR.

My original purchase of EXR was around 5c, I saw it drop to 1.8c (from memory) during the Covid crash. I was basically in the red with my investment for the first four months I held. What I do know is to those of us who held on, even when the price was dropping, and when it dropped again last year with the options conversions affecting the price, are all significantly better off than those that sold.

About 2 million of the 9.7 million shares traded today got dumped in the last half hour of trade. That also explains why the VWAP was 24.6c and well clear of the 23.5 closing price. The drop in the VWAP from last Friday was -5.02%. Also, today almost a quarter of the trades were for less than $500 - that's not retail.

So what's the path? I don't know what the price is going to end up at tomorrow - maybe up, maybe down - I have that in common with everyone else. No one knows. What people need to do is evaluate where their goals and aspirations are. Personally I'm not willing to let this opportunity get away from me, I'll be selling when Neil Young does! Good. buying at these prices.