What a difference a day makes
Yesterday when I posted (3993):
Could be worse
NZO minus 1 cent
AWE minus 30 cents ...
AWE had closed down 6% on the ASX while NZO stayed about the same.
Anubis posted (3998):
Most of the oilers on the ASX were down heavily today - between 5 and 10% on average. Presumably this was a reaction to the (relatively minor) drop in oil prices overnight. Oil could easily turn back up tonight and then tomorrow the oilers will swing back around.
NZO is very well supported by comparison – appears almost immune to these factors on a day-to-day basis – moving to its own rhythm. In fact it feels to me like there’s a lid being kept on it. It might be the option effect, but it almost has the feel of one or more big sellers keeping the price down at around $1.64.
One of the reasons the ASX oilers are down so heavily today is because they had such a good run up the last week or two – during which period NZO has been practically stagnant. Sure, it had a great run up before that point, so there may be some exhaustion, but it just feels like it could pop again at any time.
Well Anubis was right the ASX Energy indices up 5.2% today and AWE was up 27 cents or 6%
Anubis also posted:
If Anubis is right on the big seler/s as well then once the big seller/s are done and the rights matter is all over rover then the SP can be expected to ...
What a difference a day makes
Yesterday when I posted (3993):
Could be worse
NZO minus 1 cent
AWE minus 30 cents ...
AWE had closed down 6% on the ASX while NZO stayed about the same.
Anubis posted (3998):
Most of the oilers on the ASX were down heavily today - between 5 and 10% on average. Presumably this was a reaction to the (relatively minor) drop in oil prices overnight. Oil could easily turn back up tonight and then tomorrow the oilers will swing back around.
NZO is very well supported by comparison – appears almost immune to these factors on a day-to-day basis – moving to its own rhythm. In fact it feels to me like there’s a lid being kept on it. It might be the option effect, but it almost has the feel of one or more big sellers keeping the price down at around $1.64.
One of the reasons the ASX oilers are down so heavily today is because they had such a good run up the last week or two – during which period NZO has been practically stagnant. Sure, it had a great run up before that point, so there may be some exhaustion, but it just feels like it could pop again at any time.
Well Anubis was right the ASX Energy indices up 5.2% today and AWE was up 27 cents or 6%
If Anubis is right on the big seller/s as well then once the big seller/s are done and the rights matter is all over rover then the SP can be expected to ...