Good call in regard to today's close Cmon. I have joined you by buying quite heavily today. How did you go, did you get to top up.
I looked at those stocks dropped from the ASX 300 and although they did tend to have higher volumes and came under pressure, PPX with a massive turnover and a 10 percent fall in price was way more affected than the rest. Do you have a view as to why PPX was hit so much harder than the others. I do suspect there was a lot of short selling going on and the last couple of minutes prior to 4pm was amazing when they suddenly jumped to 8.5c for a few seconds.
I believe that PPX has a good protection by way of the PXUPA funds in tough times. If they make losses over the next year or so, my understanding is that they do not have to pay the PXUPA dividend and it is not cumulative. So basically during the tough times they have the use of $275 million interest free. Does anyone see this as being incorrect?
GPASAS
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