They could of course have an interest in the other side of the deal.....
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Markets hate uncertainty and this one is going to be uncertain for quite a while.
Rather than agonise while the CNU and the Govt stuff around I've taken the hit and sold out at $2.00 in the opening this morning. I'll use half the dosh to fund the take-up of my PEB rights and the balance is going into buying more DIL.
The latter may be a bit uncertain at the moment but come early December when the results of the restatement is announced my pick is there will be an upwards move to around $6.
Can anyone please explain what on earth was the point of the regulator coming out with the figure he has when he must have known he was going to have to redo it all over using more applicable criteria per the FPP process as per Herald article.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11151998
a 25c swing, more than 10% in a 1/2 day. I'm not a trader but well done to all who make that sort of result happen.
Moosie what is this dead cat bounce thing for those who are learning slowly?
In finance, a dead cat bounce is a small, brief recovery in the price of a declining stock.[1] Derived from the idea that "even a dead cat will bounce if it falls from a great height", the phrase, which originated on Wall Street, is also popularly applied to any case where a subject experiences a brief resurgence during or following a severe decline.
Wikipedia
Note when moosie says its a dead cat bounce that it is a small, brief recovery .... and then in theory it all turns to custard again
cheers winner