Oh don't worry, it's going down again today
@uktrader. No shadow of a doubt. Gaps in the buy side started emerging late last week. That means buyers have exited the building. You don't need to be a neurosurgeon to understand what that means.
I know the rah rah brigade will shout me down but I have been in this game for a long time and when u start seeing the buy side capitulate like it is now, it's is rarely a good sign. When capitulation occurs immediately before a big announcement, it's even more of a concern. Some may have heard of this phenomenon before, it's called the 'leaky boat sell-off'. It may or may not be happening here but it certainly has most of the hallmarks of such a sell-off. Couple all that with f/a in the way of an update from management, then look out. How difficult would it be for PC to release a statement to the market that nothing has changed and finance is almost complete? Do u reckon that might assist and stop the weak hands from selling? You betcha it would. It's really quite simple in my humble opinion. People are selling because they are losing faith that finance will be finalized.
As usual, I sincerely hope I am wrong because I've got some decent coin tied up with this mob. After the SP raise to 6.3c, it's very disappointing to say the least.
PS, to those sh@tcanning other posters for raising the issue of potential political interference by the CCP, perhaps you should hit the books and do some research on the manipulation/control of industry by the State in China. They are a shrewd people and have patience way beyond many western democracies. This is not a China bashing exercise. History tends to be a good gauge for identifying the facts. Anywho, that's the last thing I'll say on the topic.
DYOR
Mr Bigglesworth
