I also topped up today at $2.67, but doing so slowly. The trend...

I also topped up today at $2.67, but doing so slowly. The trend is terrible, definitely not one's friend, so traders will be avoiding the stock like the plague, and will probably short given the trend. Long term investors have been badly bitten and are probably very frightened that their dividends are going to be cut.

Passive investing, index funds, will do what they do, just follow the price, in this case its down, so both groups will be selling. They have no choice, that's their investment mandate.

So lot's of selling pressure, with not much buying support. Buying support only coming from limited long term value orientated investors such as myself.

For those buying the australian secondary market ASX listed shares, remember their is currency effect on pricing differentials between the NZE and ASX.
The AUD to NZD has been getting stronger: was AUD$1 - NZD $1.05, this has widened to AUD$1 - NZD $1.10.

As New Zealand cuts its interest rates faster than Australia, there is a risk the currency spread will widen further.


So this is the current battleground, against this Spark has significant barriers to entry, it operates in an oligopoly position (and this is what I am taking a calculated gamble on). Their profit will turn around (but it may take a year or 2).

AGM is on 1st November, so will be very interesting to hear market update from the AGM.

Spark also hit new 52 week low yesterday, breaking through its $3 (NZD)support barrier. This will add to selling pressure.