A severe and brutal resource downgrade has hit ROC.AX today. It went down 32% on the day. What was painful about it was the fact that there was sell down just two days before the announcement, AS IF, some people have already known about the downgrade. A case of insider trading??
On the interview at the boardroom radio, the management did not seem to sure how this could happen. This is a 25% downgrade of the main asset!!
BPT who is also a JV partner (owns 30% of BMG - The same proportion as ROC - 30%) did some damage control by saying that it only affect the company 2% of final asset..(BPT down 7%..)
What about ROC??? Nothing?? Zilch
My Computer Modem was Broken Yesterday!!!
What a bad luck. My modem busted yesterday, when the stock market was tanked, rather badly. What made it worse was the fact that I did not have my buy order in place. Last week was such a bad week at the ASX, so I do not want to leave my orders overnight. As a result from this condition, I miss the run today...Never mind, there will be another chances, another times, I suppose.
If I can learn one thing about yesterday, was that a serious stock trader should have this sort of condition covered in her/his trading plan. The trader should consider the option when the modem or the internet connection does not work as it suppose to.
If I can learn one thing about yesterday, was that a serious stock trader should have this sort of condition covered in her/his trading plan. The trader should consider the option when the modem or the internet connection does not work as it suppose to.
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