Exactly Gooch, the market has become a casino, and it has NFI of what companies are actually doing, nor does it care, because the market's algorithms trade on "pure statistics", and bear no relation to company activity or worth.
The CEO's and Chief Financial Officers of 3 ASX listed energy companies agreed on this exact point, only last week. What is more, one of the companies registered an official complaint with the ASX (for all the good it will do them - because the ASX has simply become a form of Mafia).
Try educating a federal politician on these issues. I have now tried with 5 of them, and met with the same idiotically similar dumb stare, followed by the usual formulaic inane and stupid comments of those totally ignorant and ill-informed and dis-interested. Why do we elect fools to govern us?
At the end of the day, you simply have to go with a company that all your own personal research has made you believe in, and forget the trading behaviour, either this, or buy real estate.
Oh, and one more important piece of advice. You never know when an algorithm is going to come for a stock near you, they appear like vampires on a dark night, sucking the life-blood out of well managed and healthy stocks, so be vigilant, keep a close eye-out, and take profits when you can, in this fool's market.
Gw
AMX Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held
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