For those who still naïvely believe that the market is fair, logical, and "is always right", here is what can happen when good news - actually, brilliant news - is released to the market. Qantas's amazing turnaround was announced yesterday, with not a single negative - anywhere. So what happens? The share price drops 6.1%. And analysts cannot explain it. If that's not dark deeds done by funds, institutions, etc, then I don't know what is.
http://www.theaustralian.com.au/bus...ils-16bn-rebound/story-e6frg95x-1227492185824
Lynas announced the other day that it had secured a superb re-structuring of its debt, on the back of making a positive cashflow announcement just before that. And the shares are languishing in the doldrums.
Similar phenomena?
You'd have to agree that TA traders, FA investors, etc are now adrift without any underlying evidence that their methods have merit, when even the market analysts simply cannot explain a 6.1% share price drop on the back of a superb announcement. Pure madness...! And very depressing for those who used to think you could gauge market sentiment based on charts and TA, or make sound investment decisions based on FA and company results.
Logical and transparent market, huh?
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Last
$6.51 |
Change
0.170(2.68%) |
Mkt cap ! $6.085B | |||
| Open | High | Low | Value | Volume |
| $6.44 | $6.55 | $6.43 | $12.35M | 1.897M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 63738 | $6.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.52 | 20817 | 3 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |