Shukit,
The market is sensing that the bottom is either very close if not here already.
It is positioning itself for the next move up.
The Commonwealth --which, incidently is not and was not in trouble -- has fallen from $62 to $39.
Ditto NAB, from $45 high, to a low $25.
The market believes, rightfully or wrongfully at this stage, that banks are thus not going to fall any lower.
So investors buy in expecting another run up, perhaps to the former heady days.
On the other hand, the market also believes, rightfully or wrongfully, that the continuing slow down in the USA will dampen demand for steel, stainless steel toasters, and that will in turn reduce China/Indias's hunger for BHP iron ore and nickel etc, so BHP's SP drops.
That is the sentiment of the market, and sentiment is king.
But when the dust settles, the market's sentiment turns to once again looking at balance sheets, and fundamental analyses, and it may be a different scenario then. ;)
Hope that encapsulates the answer you seek.
Ditto NAB, from $45 high, to a low $25.
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Last
$44.58 |
Change
-0.790(1.74%) |
Mkt cap ! $226.1B |
Open | High | Low | Value | Volume |
$44.51 | $44.65 | $43.97 | $414.4M | 9.353M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12 | $44.56 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$44.58 | 8261 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12 | 44.560 |
2 | 21 | 44.450 |
1 | 224 | 44.440 |
2 | 37 | 44.400 |
1 | 560 | 44.350 |
Price($) | Vol. | No. |
---|---|---|
44.590 | 100 | 1 |
44.620 | 1228 | 2 |
44.630 | 200 | 2 |
44.640 | 1000 | 2 |
44.650 | 300 | 1 |
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