the MME tussle has been ongoing all week....looks like some small retail traders moving between 12 & 13c (yesterday the tussle was between the 12.5-13c range with 12.5 winning in the closing auction).
I would ignore all the noise except I'm overweight MME, and it moves the entire portfolio so can swing me into the red/green (irrespective of broader market movement) if MME moves.
Ah well, the wait for 1Q performance by the end of Oct (so a month to go) and hopefully the now more dovish RBA comments (which means that rate rises are definitely off the cards) will mean they can extend or expand their facilities at favourable rates and also that the relatively benign credit risk remains low (i.e. defaults remain low).
MME Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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