About 1% of the company traded so far today (mainly on the ASX of course). Looks like the initial ASX opening euphoria is starting to wear off....
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Looks like you were right again JTH. The big money does not seem to be flowing in today continuing yesterdays rally. If there was anything more substantial behind it I agree the strong up trend would've pushed through today with big money flowing in. However it doesn't look like that's happening, so more likely it was shorts bailing out due to being nervous about the article in the Australian. Actually looks like that has now subsided and we are seeing a several from the brief rally yesterday.
I would expect the next ATM announcement to be very poor and likely to see another strong sell off pushing the SP back down to recent lows. Is that your take on the most likely outcome next?
BUGGER BUGGER BUGGER:t_down:
Yeah I bet the shorters that sold out and caused yesterdays rally are probably rethinking their decision now. Especially when based off one article in the Australian. It is amazing how influential the media can be on the sharemarket these days. Or hey it only takes Musk to make one announcement and he can play with Tesla and Crypto stocks as he likes. Simple business fundamentals don't seem to be quite as determining as they once use to be.
Still might be worth shorting now. Wait for next coming announcement which is undoubtedly not going to be very attractive. Likely to initiate a further sell off. Regardless of if anything materialises on any possible interested takeover offers, that wouldn't happen until the share price is driven down another round. As mentioned further up in this thread, if Nestle were interested I'm sure they would be smart enough to wait until SP drops lower again off further poor earnings results before then even starting to show any real interest. A takeover would need to be a steal to be attractive, and with forward P/E at todays share price ATM is far from attractive currently. Let alone with the hurdles still faced in China. Does anyone think the shorts bought in a bit prematurely yesterday, ie got too nervous on unsubstantiated 'news' and over reacted?
I dont think its prudent to short ATM anymore ...more risk involved ...Cant keep flogging the same old horse just in one direction ...
Turn around very close ...shorting can be dangerous ...big moves against shorts possible at slightest notice .
Also as no negative trading update came so its pretty certain they are meeting their revised 2nd Half estimates ....more chance of surprising on upside then downside as estimates were pretty low
Price action out of OZ is showing ...something surely cooking ...either very big good news or very big bad news so they maybe ramping up the prices by media help to short further at higher levels . All know what games big money plays and how !!
We need to figure out fast ...is it big up after news kind or big down after news kind of game
Both ways risk is involved so staying cautious and within means is prudent