My gut feel is that the flooding type of recent sell-offs was most likely due to margin related forced sales and not hedge funds. I would expect hedge funds to be more persistent - if the price fell so easy and rapidly, why would they not push it even lower?
There is also a possibility that there is some general rotation away from resource stocks, following the broad brushed rush to resources, particularly when the financial stocks were under pressure, and also possibly a less positive view of resources, reflecting a developing view that there will be a softening in the world economy, with adverse consequences for resource stocks.
Additionally, there has been a drawn expectation about the start date of mining operations - I remember seeing very assertive comments on Hotcopper going back to mid January that the start-up was imminent(like, I've seen a sign about "the start date" at the mine site). Yet we are still awaiting advice of start-up.
- Forums
- ASX - By Stock
- PNA
- whats goin on
whats goin on, page-45
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PNA (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online