Ann: Completion of Senior Loan Refinancing and Eq, page-14

re: Ann: Completion of Senior Loan Refinancin...
AUD has gone up today to almost a record (not far off) which does not explain todays close.

I am not having a go at aads1973, just observing, loking for something rational.

Call me a cynic, but I think the instos that paid $3.08 have collectively driven SP up so it looks good on their books and next month bonus wil be enough to put deposit on Ferrari.

I was expecting something like this, believe it or not, couple time I have started a post on just this suspicion, last time only yesterday but I erased it and never posted it.

Market is not only about NTA and vacancies, supply and demmand, there are people involved who trade with other people's money and their remuneration depends on the numbers in the book on the end of each month.

Thats is why for example, price of oil was going up some time ago, even at the time when the US strategic reserves storage fascilities were so full, they could not fit another barrel of the real oil in the compound. And when the price went high enough and the smarties quitetly established their short positions, they let the cat out of the bag in the media, incluiding the photos of the storage facility bursting at the seems. And down we go-o-o-o, oil price droped and the smarties got a big bonus and the traders caught long got sacked for non-performance.

If anyone reads articles by Tim Boreham alias Criterion in The Australian, he is just as puzled lately, by market at large and wrote recently couple of articles just on this topic, not being rational, wide gyrations for no reason, and some so called experts trying to look wise when they really did not have a clue.

Well I am not going to winge when SP goes up, I know this is not a perfect world, I am just yearning for some rationality to return.

Fortunately, I have other stocks that are behaving a lot more rationaly then this Japanese geisha.