Did an experiment and made $900 odd profit on 1000 shares. Shares dropped about $2 so far.
The big boys they sell at the high point of $26 odd then they buy a day before the next announcement they buy then the next day they sell late in the day then they wait for the week of the dividend and watch it drop like a brick then they wait closer to pay out day when its at it slowest and I suspect anything from $15 to $17 and they they buy in and wait about 5 months and the cycle starts again.
This is only day 1 of the drop cycle. It has another 2 weeks to play out. I stated by Wednesday it will have dropped far lower than the div or franking and it will.
You'll have to watch it fall like a brick.
If people are clever on 1000 shares they can make in a 1 year with two div cycles about $15,000 profit. Yes half will go to the tax man but still way ahead of waiting for divs.
Lets see how it plays out shall we. It will keep falling today. It will go up and down a bit but the graphs do not lie it will mainly drop hard which it has done so far and not even an hour into trading and its dropped $2. Another 5 hours of pain to watch for you. Then another two weeks of pain.
FMG Price at posting:
$18.98 Sentiment: Hold Disclosure: Held
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