While I am back at work I still find time to look at my portfolio especially now that there is an important event just happened and that is the payment executed once again by Goldfields.
And there it is. Price action for LC speaks for the partial acquisition of Goldfields currently 40% of FSE. To complete the 60%, the other 20% payment will be done once FTAA is approved.
I did have a glimpse of the price after the lunch break but didn't show yet any significant movement. When I came back after the close, I just saw LC went up as high as my aep =)
Simply saying that I am almost out of being ipit!
Goldfields secures 40% of FSE
PNX showed stability despite the expected phenomenon of tsupitero sell down before ex date. I really thought the price will drop to justify the anticipated 50% stock dividend. Well, there is still tomorrow but I am hoping that the price would stabilize to realize what is really expected of the dividend- Buy 2 take 1!
To explain in my own view (even if it is way too far from the real definition), jockey is the one who significantly move the price where it wants to go, up or down. One must have a huge amount of cash to trade in order to buy up or sell down a stock.
In the case of PNX, jockey/s seemed to have attempted to push the price 2 weeks prior ex date, March 21. Normally, once a dividend is announced way before, the jockey takes this opportunity to buy the price up until it eventually sells down the day before ex date thus leaving others to hold at least after the record date to be entitled of the dividend. Look at what happened to AP and TEL. If I remember it right, a day before ex date it went down 5% and 3%, respectively. It is least known however that this strategy allows them to maximize the run up til ex date where other frenzy buyers helps push the price up racing to get position on ex date for the dividends. The jockey sees the opportunity to sell since the gains it incurred already gives more or less what is promised to give as dividends. So ask yourself, why should the jockey extends his position when selling before ex date will be safer for his gains? From ex date to record date poses risk of exposure to hold since they are simply traders- can't hold that long.
BUT surprisingly that didn't transpired with PNX. A certain force defeated the jockey. This force regulated the price in order to stabilize during this period of stock dividend announcement. If the jockey/s attempted to push the price up, subsequently the other forces sold it down equally.
Moreover, there is this disclosure that is promising for a better days for the investors of this company:
Good night!
