Don't get me wrong, Auto - I'm not saying the spot price is irrelevant. But what I AM saying is that the daily gyrations of the spot price are completely irrelevant except from a sentiment point of view for those who watch it on a daily basis.
Changes in the spot price don't make a company profitable one day and losing money the next. The fundamentals just don't change that quickly. It's like the petrol prices - they are completely unrelated to the oil price - we're paying about the same per litre now as we were when oil was $150 a barrel - yet currently it's about 1/3 of that. And don't even get me started on diesel, which is less refined and cheaper to produce..!
I just think that letting the daily fluctuations of the spot price affect your view of the fundamentals of the company may be a bit short-termish. However, you have to do what feels right for you.
Let's hope for both our sakes that the uptrend keeps going.
Don't get me wrong, Auto - I'm not saying the spot price is...
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$12.38 |
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Mkt cap ! $3.696B | |||
| Open | High | Low | Value | Volume |
| $12.50 | $12.54 | $12.38 | $5.669M | 455.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 8335 | $12.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.40 | 3553 | 22 |
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| Last trade - 11.02am 26/06/2024 (20 minute delay) ? |
| PDN (ASX) Chart |