Brazen, this raise an interesting question re timing: when a share moves out of the TOPI, would the institutions who hold it for the purpose of their ETFs sell it at the exact time its market cap is less than the successor or prior to this point? In other words would there have been selling pressure already that in part has driven the price further down? and now that that is finished the share may be more free to rise again? I wonder if there is some prerequisite period in which they have to dispose of the shares, as this would have some bearing on the price they could get and thus the correlation between their ETF and the underlying index. anyone have any thoughts or knowledge on this?
Right on B ! You go gir !!! whether you move the market or not you came up tops, so who cares !? Well done, sounds like i need to take a look at this futures contract thingie, missed this thread when i went to pick up mine from school. In the meantime, if you wanna check it out, i have been playing with GFISBF. Bought 2 fridays ago, sold last friday and bought yesterday. So far almost 100% profit on initial outlay. I feel it is low risk considering GFI's chart on AU price.
That is interesting Kr!pto - not sure. I just saw the spike and tried to find a reason, the only thing I could find was the announcment about being booted from the TOPI. Thought that might have resulted in some wierd movement for whatever reason and took the profit. Ditz - well done on GFI, it's looking good on the charts now innit? I always have it on my watchlist for old times sake, just haven't traded it for a while. Due to those old times!
And Ditz, about a year ago (!) I bought some GFI shares for my long term porfolio. I paid R125 so am just now sorta heading back to break even. Bloody dog. Woulda done better putting the money in almost anything else.
Oh I know, it's a dog like HAR and DRD. I'm not a friend of this stock myself and even with the chart as it is, I won't buy it. There's always some corporate action or news that screws things up. Funny that i find the warrant less risky than the share.