Some people just have bigger dreams than others aye, now where was that bottle of Tui.
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Back in June, after XRO's sp broke through previous support at 2800, it plummeted $5 for a day and a half to bounce back off 2300 for a month. Similarly these past two days, but when 2300 was busted we see it bounce quickly off an intraday low of 2100, which is only $2 below previous support.
That is, its plummets are getting smaller. This week's may not be the last one (perhaps there is another to come ($1) to its psychological support at $20...but it does look like the sellers are running out of steam.
Discl: no longer holding...but looking to come back in again soon.
The local popularity of Dotcom is an indictment on the mediocrity of NZ politics. I have better things to do than dignify his antics with a response.
Meanwhile, I am getting very interested in XRO at these prices, and now have a bid on market. I expect that with all the selling these past few months there would have to be at least one big seller whose given their broker instructions to sell down to no further than $20.
Trading to it.
BC