thanks Sector! - this prompted me to check mirvac. great uptrend. nice and clear, no doubt.
then the surprise writedown. look at that sharp break! i assume the write-down occurred on 7th feb? just look at the volume on that break! this could well have been the trigger moment. the price has recovered for now but moments like this are generally what you can trace back to after you are well into a trend change and interested to see where it started.
i dare say this would have caught a lot of big players out and they have recovered the price for now but i think theres a fair chance there will be net selling in the future.
monumental opportunity to start shorting stocks like this. its hard work fighting the trend getting stopped out all the time a trigger like this is all you need to more confidently begin your operations as the line of least resistance begins to point downward. i'll be watching very closely now for confirmation.
thanks again. and btw what does the past 6 months upward trend have to do with the very recent surprise writedown of 150 million in assets? don't you see those little sentences at the bottom of super fund ads? past performance is not an indicator of future gains. still, i suppose property bulls do very much like to extrapolate past performance into the future and borrow heavily on that assumption.
