The other strange bit on this occasion was selling into that lockout auction. Sure, the position can change tomorrow, but it seems a big risk, particularly with the extended auction that pushed the sp up to the highs of the day without really letting mere mortals easily buy in.
Again, it's fine, and each to their own. The only twatty bit is going on about market crash looming etc the second you sell. If they buy back 5p cheaper then does this mean that they no longer fear the market crash they were spouting on about before? It just means that it is difficult to take such people seriously as they become like Chicken Little the minute that they sell.
They are trading it hoping to buy back 10p cheaper, when their narrative will change again (check out their post history as it is quite amusing) It may drop yes, but one of these days the real reward will come and you are taking a chance that you won't be in at that time. Being out at the close (so then by definition also out at the next open) would have meant you lost the 25% rise on Friday.
Oh no Rosie is back. She incessantly ranted her telling people to sell at 2p - real foam in the mouth stuff. Hopefully most looking to sell ignored her as not long afterwards they could have sold at 3p or 4p or 5p or 6p or 7p or 8p or 9p...... She has been noticeable in her absence since then - I thought that perhaps she had been committed to be honest.
Fair enough - I just meant that the spread was likely equating for a decent chunk of that, unless it hit 5.5p to buy. Perhaps it did - haven't been watching the trades that closely as I am currently in bed with 3 supermodels who are ravishing me. Oops, must dash.
That is a good point Jmak - it is based upon what is known as anchoring bias, which is a well established cognitive bias where you base future assessments on the initial piece of information rather than the fundamental analyis (whether you consider that piece of information to be the fact that the sp went as low as 70p or the fact that the initial rejected bid that we were told about was exactly £1 above that. Perhaps the bid that they want us to then accept is a further pound above that one or perhaps a different figure. All interesting though.