I actually dont think it was RXP specific today, just about every IT stock on the ASX had an ugly red candle. Looks like someone hit the sell button on the sector yesterday.
Interesting....
I cant imagine PSZ's slight miss would have had such a profound negative impact on the sector like that????
Yeh RXP I am thinking low 50s. If that cant hold then a dump down to 40c would be nice. PeterDoobes it's what I do, I am a contrarian suicide trader. By the way I may have to start calling you Garry Wreck ;) I actually love buying stuff when the chart tells me its a sell, and sentiment has gone to crap. In fact my perfect set-up is counter trading pre-built market expectations on the physical news. ANG perfect example recently.
At least RXP is cashed up, no debt, with a solid outlook in April. So unless conditions have completely collapsed in the last 2 months of the year, which maybe they have, then at some point this is a buy. And even if they miss guidance, depending on the magnitude of the miss this may well still be a buy. But who knows I am probably completely wrong with this one and I will get a spanking, wont be the first time.
Raising money at 80c is starting to look genius now.
RXP Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
