Anyone who delved a little into PSA's chances of ASX200 would have realised it didn't really have a chance until China was proven.
I might be wrong, but I think today is just profit taking from a few larger traders/long term holders.
I put an elder family member onto PSA at around .55c - Despite my best efforts to explain the huge upside/impact (1) the China program (2) the annual profit announcement (3) the extra mid year Vermillion drilling (among other things) he just wants to sell now. I told him he is completely mad....then again he has never been a risk taker. He has 50000 sitting there in the depth at $1.50.
Breather today, maybe Monday then another surge I think
Regards,
Christian
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held