Why is the SP so low - so quickly?
Market sentiment. Wow - whats that - well more buyers than sellers or less - as the case may be. the SP does not reflect value - but expectation of value.
Since many sharetraders are folk who "know more" - either by better chart reading, better news gathering, better news interpretation or just good old fashioned better information - they can influence the market earlier than us poor mortals who don't have their divine, logical or illegal knowlege.
The answer must be NO - and we are seeing the result. A massive fall before news. Now we have the news - and it is equivocal - so we now have the confirmation of the fall that we had after the Ching low production fall.
The SP is now below NAV (anyone's - about 60% of my own) - and we wait for the correction - as this fall I believe, is an over-reaction - like most market moves!
No help for anyone though - and it couyld easily fall into the low 70's before a rally.
Cheers...
HDR
hardman resources limited
