What makes it even worse is that I think that is the very one Trump was referring to:scared:
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flew down to chc from auckland today on the 10am flight. not an empty seat. Looks like those who bought recently are still catching knives. Who knows where the bottom is on this one but the chartists must be having a hard time!
was consolidating at the lows between 1.76 - 1.80 on the hourlies when it broke thats why you got the big fall. 1.80 - 1.76 = 1.71 price projection.
if your a good oil trader then you should catch the bounce in air.
Anyway gonna take me 2yrs now to get my capital loss back on this one since going ex div thats just to get back to square.:scared:
book yourself a holiday somewhere nice and pretend you were paying 2015 airfares. Its one way of feeling better about the capital loss.
Technically that's a bad breakdown, putting the 61.8% fib retrace (of the four year rising trend) and 1.76-1.80 in place now as resistance. I have a minor support line at 1.70 then again around 1.55 and 1.35 but those seem well over cooked to the downside without some relief rally in between.
Another thought: now at about 47%! off the high 3.26 AIR needs a 90%!! SP appreciation to get back to that high. Ain't going to be happening any time soon. Biggest worry for the worry worts is this is all happening sans any bloody serious market rout, lord help the SP if there's a market shock or a black swan around the corner.
He cashed in 166k shares leaving him with 203k so probably keeping the rest for when the SP gets back to $3. Whilst I find it very annoying to see these guys selling down, I reckon their sales have only had a tiny influence on the current SP. The Govt own over 50% of the shares and they are having no influence on the SP, retail holders don't hold enough shares to cause any prolonged or sustained SP drop. That only leaves the Instos both NZ and international to drive the price down, these are the guys who have driven the price to where it now sits and some of these guys hold huge numbers of shares, with some of the Macro events around the traps currently who knows when they will take the pedal off the gas. We can only sit and watch(Or buy more if your see weed)
Its the perception by some investors that is important here. As insiders like the Chief Revenue guy knows more about what is happening with the company/industry than us plebs. So for some investor's they see insiders selling as a time to sell. The reverse is true too.