Ok, let me start off saying that I am a long term holder and am fully confident in CER's long term future. However upon regaining power here in NTH qld I had a lot of reading to do regarding the last few days.
To cut the bull really i'm slightly pessimistic that this extra movement by CER is going to be sustained. It appeared to come from no where (yes fundamentals have been improving over the last 6, 12, 24 mths but nothing specific for this). CER has been dragging its heals in giving us half yearly reports (or did i miss this info too during cyclones?). And more specifically orbis just dropped some of its position.
Personally this looks like a well played pump and dump by orbis to me (not quite as big as what we saw with CNP when it spiked at 50c+ last year).
So my questions are: Why would Orbis be selling when things are looking pretty damn good for CER?
How much of this recent up trend was just careful planning of Orbis to make it appear as if accumulation was going on and thus 'boosting confidence' in the stock.
I really dont care for peoples predictions of prices (they are usually exaggerated guesses) but I am just wondering what other peoples thoughts regarding the legitimacy of this spike are.
Thanks for any input
By the way, a huge welcome back to Defab. Whether you are back for good or not, it is great to hear that your life is a bit more normal (as life gets) again and that you and your wife are well.
Cheers
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