objective analysis of today's events, page-20

I think yesterday showed there is a lot of the money in LYC that is purely speculative. There is no love affair with the stock other than the love of playing the rides up and down. In fact the money that went out of LYC yesterday wouldnt even care if the LYC was in fact the worst polluter on the planet, it was just about moving money and making a quick buck.

I've been trying to understand what happened and I think it is all about psychology not TA or FA. But I also wonder if that fact that it was the 1st day of the new financial year amplified things. It seems to me the logical time to sell if you were a holder with concerns was pre announcement. There was very little chance the report was going to be any better than what it turned out to be, but there was a huge chance it was going to be much much worse.

I wonder how much of yesterday's trades were holdings that people actually wanted to sell Thursday but didn't want to book a profit in FY11?

I lost a bit yesterday, but I also slept well. Looking at LYSCF.PK this morning I don't think things are looking any more gloomy this morning either.