Opened 1c down today, contrast that with last 4 trading days where it opened higher and sold off by day's close, so hopefully it'll finish up today...reversal of trading pattern may be?
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Opened 1c down today, contrast that with last 4 trading days where it opened higher and sold off by day's close, so hopefully it'll finish up today...reversal of trading pattern may be?
Yep..Couta ..and it takes all sorts to make a market..and when there's enough of them they can dominate the Market Place.
Markets run in cycles and there are lengthy periods when the "Dark Forces" rule and money evaporates...
Sometimes you hear TA as being a Dark Art..That's true.. TA can measure and record everything Good v Evil therefore it can observe the emergence and activities of Dark Forces be it Muppets Bogans and I guess you have to add Shorters to that List too..
The Good lose control when they are "all in" as they can not keep the buy momentum up on the supply/demand equation...
It's amazing really when you talk to people and they say they have bought into the company such as AIR..They shake their heads in total disagreement when I say.."That's not entirely true, as you have also bought into a market that trades in AIR shares".
LOL Sounds like if there was 50 blokes our build they might have a problem :)
http://www.distancefromto.net/between/Auckland/Nelson
Speaking of costing them money. AIR's cost per available seat kilometre, (ASK) is 10.5 cents but seeing as Jet are using very old aircraft, staff and pilot's from overseas e.t.c. at the very lowest possible cost lets say there's is 9 cents per ASK so the flight to Nelson that some booked yesterday at $9 actually cost Jetstar (507.82 km's x 0.09) = $45.70...so you're helping Jetstar lose $36.70 on that flight so those people who took advantage of that opportunity can in a perverse way feel they're doing AIR N.Z. a favour lol
Hmm brought in today a small amount @ 246, only to watch it break down to 238!! Ahh the perils of the market.
Not that I sound patriotic BUT I have flown with other airlines, No matter what Air provides the warm, friendly service that makes me always book with them. I may or may not be the s/holder but I enjoy travelling with air. That goes with any business, if they can't smile and be friendly I stop shopping with them.
What the market will do is anyones guess at the moment. Just look at Oil overnight for example, however the volume on AIR is low at the moment and seems that people are extremely keen to get out causing quite a bit of downward pressure on the SP. My powder is staying dry.
KG.
I suspect some of the Asian holders are annoyed by the double whammy of seeing the SP decline as well as taking a beating on the value of their holding with the $Kiwi falling. That and when the custard hits the fan in their home market the natural tendency for some international investors is to round up one's remaining chooks from overseas and transfer them into their domestic pen.
Oil overnight went from NZD$68.53 per barrel to NZD$74.43 per barrel. An increase of 8.6% for their biggest variable input cost. In the background, they have increased domestic competition and twitchy markets.