wooduk, I am also a long term holder not a day trader.
Sorry my question wasn't that clear. What I was asking is; Do you have an opinion on why we have seen such wild swings in price since the share purchase plan. It has been extremely volatile much more so that the wider market. i.e. market up 0.7% MCC up 2.8% market down 0.2% MCC down 3% and even market down 0.5% MCC up 2% (these are approximate numbers from my memory only i dont have time to research the exact numbers but they serve to make my point).
My opinion; There was some concern about output due to some bad weather that was experienced and forecast which caused (IMO) some of the down turn.
Some people held their SPP shares hoping for gains but got spoked when the above caused a minor retrace which in turn made it a major retrace.
And due to that a lot of people (or the big boys) topped up at a cheap price, causing the slight swing back up.
What I am not sure about is why when there is bad news MCC is dropped so much quicker than others. Are they risky? Seem to have plenty of money in the bank to me.
Anyway I hold and will continue to hold. My comment about day trading was simply that I see big profits to be made with the large swing in ups and downs.
Cheers
MCC Price at posting:
$12.35 Sentiment: Hold Disclosure: Held
