I really don't think it is all that surprising what has happened here. NEU has good prospects longer term, but the ASX is full of traders with short attention spans. I said it before the announcement that I didn't think the SP would fly unless results were absolutely conclusive (which was not really realistic). It seems traders these days really build up the hype leading into an announcement (happened here too - go back and look at the posts about SP predictions, deals etc before the announcement) so when the announcement drops they are disappointed and sell out.
The sellers had short term pie in the sky ideas about what was going to happen with these results - imminent deal etc. When they realised that while the results show some fantastic potential, it is all going to take time to hash out, they move on to the current big news and market movers (look at top gainers each day on HC - always opportunities to make money). I should have done it myself. I thought about taking profit on the initial spike to buy more EPT (which then had a good run). I could have then sold that and bought back into NEU with my profits at a lower entry. I ended up holding as happy with the mid term prospects and I don't have as much time to actively trade at the moment. But, I can totally understand why others would have moved their money after the results and in the next fews days if they are not long termers with NEU.
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I really don't think it is all that surprising what has happened...
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Open | High | Low | Value | Volume |
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---|---|---|
2 | 1378 | $21.24 |
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Price($) | Vol. | No. |
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$21.29 | 218 | 1 |
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1 | 47 | 21.150 |
1 | 500 | 20.860 |
1 | 240 | 20.800 |
1 | 50 | 20.630 |
Price($) | Vol. | No. |
---|---|---|
21.300 | 12763 | 1 |
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