Cathal and the SP23 Dec 2020 11:08
Look I would like to think we are all realists on here so I would just like to clear something up from my perspective. I think Cathall knew that the II's who took place in the last raise were looking to exit before year end, which they now have done. He may have downplayed the SP knowing this and if you watch his response to an excellent question posed by someone on the Sharesmag interview a couple of weeks ago he fudged his answer by initially mentioning capital gains issues for some holders, but then pivoting to talk about retail holding fluctuations on the share register.
Personally I didn't buy a word of it. His narrative on the SP had changed since Sept/Oct time.. I think the comments he made about not wanting to lose II's to big doubling share spikes was referencing invesco, who it has to said seem to have stood firm again and good for them as it was a good choice.
If he had made any mention of II's selling down the SP would have collapsed as we all know it, so he didnt and his narrative changed to manage SP expections.
So here we are, SP steady for weeks and II's looking to exit have done so. News out just before Christmas break to try to bolster retail morale and although there be residual sells still to come, the main trading range has increased each day for the last three. I know it has been a grind but the SP won't suddenly shoot up in my view, there will still be those who sell into news as they are used to the daily retrace but this is no longer a certainty anymore, in fact the opposite, it looks great atm.
How many times have any of us got bored or cheesed off in a share and sold only to witness a rally hours or days later?? :)
The chart looks great and whilst cathal may have spun the truth of the matter about the SP he did so with good intentions I think. Now were are where we are, or very nearly are, clear of the placees. Just my veiw but I am sticking like glue to my over exposed postion well into next year.
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