'Qantas's amazing turnaround was announced yesterday, with not a...

'Qantas's amazing turnaround was announced yesterday, with not a single negative - anywhere. So what happens? The share price drops 6.1%. '

Pretty simple really. The big turnaround was expected and the traders pumped it up, and then sold on the news. Has been going on for the last hundred years - Buy the rumor, sell the fact. Or pump the news, and take profits. Both occur with regularity, and always have been done, long before dark pools, HFT, hedge funds etc.

Retail shareholders and some traders, tend to get a little too excited about any news and bid the SP to over the longer term sustainable value.

No different with LYC - how many times have we seen the SP be pumped up with reasonable volume, only to fall back over a few days.

'You'd have to agree that TA traders, FA investors, etc are now adrift without any underlying evidence that their methods have merit,'

No, we don't all have to agree. There are $ to be made in both trading and longer term investing. It's just unfortunate that LYC has not been a company to make good $, unless one is a short term trader of a long term short.

'or make sound investment decisions based on FA and company results.'
Yes, one can still do this. Find a company that shows a record of YonY profit growth and ROI, and is trading at around fair value. Do not be too worried about paying a little over the odds.

LYC is not a company where an investment would be considered, currently, under normal FA considerations. It is speculative for a number of reasons.

But much easier to sleep at night if we can blame some aspect of an unfair game when our picks don't make us rich?