Forum Archive Index - September 2001

["dsproul" <dsproul@corsairmarine.com>]

I suppose this might have occurred with other stocks, but :

 

Yesterday, upon notifying ASX of its higher than previously thought exposure to World Trade Centre claims, and that the company may have its entire  2001/2002 profit wiped out,QBE dropped from $9.23 to $5.79.

 

Even so, considering at $5.79, the stock was maybe a little oversold , I considered an investment in this company at around the $5.80.

 

At 12.05  , just after opening , QBE was at $6.50..  Oh well, I thought , it was a good idea at the time!! ............... And left to do some other work.

 

I just happened to glance at the Television screen at CNBC at 12.40 and noticed QBE trading at $5.15!!

 

Rushing back to my computer to turn on  Stocknessmonster, , which showed last sale at $5.39. Hitting the refresh button , last sale was $5.48.  As I write this,  trading at $5.60.

 

IN  A LITTLE OVER AN HOUR , QBE HAS RANGED FROM $6,65  DOWN TO $5.00 , AND BACK TO $5.60.

 

I put in a rather optimistic buy order at $5.15 and am now turning the computer off . But who knows..............

 

Dave

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