With all the shorting that was going on before the announcement and the subsequent price drops (excluding the last couple of days before) we were already at a price I believe was fair, even with the news in the announcement. I guess that is what I meant by expected and priced in.
We weren't expecting amazing results as the previous quarter profit had dropped and caj even told us about the medicare review affecting revenue. Although the divi' cut was a bit unexepected for me.
The bigger drop after the announcement I believe has been overdone. The annoucement news should have caused us to drop to about 0.20 not 0.13 however, we were already at 0.20 when the announcement hit.
During the period caj was being shorted, and this is just my opinion, people started panicking and thinking as you are, "someone must know something we don't", so they started selling. Then we drop more and more people panicked. Along the way, stop losses get triggered which results in more selling. Add to it the short selling and it's a lovely snowball if you are a shorter.
That's how I saw it play out and I could be wrong. I have seen similar things though like with S32 but eventually common sense and the longs prevail.
Your link wasn't in your post btw. I'd be interesting in taking a look at it.
Cheers,
SKM.
CAJ Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
(20min delay)