Anyone any view on today's drop guidance is still in line with market expectations, went to a fund manager meeting today and their take was Trump is getting more stuff passed in relation to infra structure than media give him credit for.
Fell through 200 ma today and does seem in a down-trend, Naked Trader exited last week so might be some of his followers getting out or does someone know something and bad news on the way ?
It is strange, it’s dropped steadily since the recent Positive trading update for no good reason. As a long term holder I decided yesterday that it was in my cull as things are generally turning slowly bearish, and I sold first thing ahead of its drop.
I feel we are all writing the script this September by turning holdings into cash and there is a macro market imbalance between sellers and buyers hence why everything is slowly falling. Obviously there are exceptions but not seemingly not for long.
A lot of my decent picks seem to be topping and rolling over last four months have a feeling Paul held this previously but sold out also few months back,
According to the company website, directors and employees own a touch over 3% of the shares in the company of which the CEO John Cooney holds 2.5% (c.1.4 million shares currently worth about US$5m). Not sure anyone else has material skin in the game.
Gus
