gself: It hit an intra day high on the first day of trading. I...

gself: It hit an intra day high on the first day of trading. I remember this pretty clearly, but then again I have been quite preoccupied with other things lately.

Nevertheless, its a minor point - the end result doesnt prove the reasons you give.

If it was OBVIOUS the SP would tank, it would not have remained above 90c on first day. We are small fish in a big pond and a lot of bigger guys than us were buying at 90c +.

Good luck getting the shares at under 60c(and I mean it, because if they drop to around 60c I may buy more now, as have come into some spare money over the last few days).

NOMADS:

"Capital gains tax is a max of 24% on income over $180k. Assume you had 1m KZL at 40c (you said you bought at 30-40c) and sold them at 90c (plenty of opportunity cum entitlement)"

Huh? Capital gains tax is at my marginal tax rate with is the highest rate. I didnt bother reading the rest of the post, as I have no idea where you got 24%. Im guessing you are applying a 50% discount but obviously if I bought at under 40c I have held these for a short period.

imo ST trading is a zero sum game, and when you take into account the COMPOUND effects of trading, 90% of 'traders' would of simply made more money holding quality shares.