[goodtyneguy]

Just a follow-up to my Oct 2012 post on the continuation breakdown of FirstGroup FGP.L below 190/185p support (breakdown from stage 3 was earlier at around 300p), http://www.trade2win.com/boards/technica...is-77.html on its recent rights issue it is now around 155p , but it took a long time and endured some moves up to 220p .
Although it broadly followed expectations, it shows that some setups are a lot worse and untidy than others.
The other point is that we are always told that the anticipation of fundamentals are in the price,
and it was pretty clear that the company last year was in a very difficult position,
yet it wasn't in the price at all until the actual rights issue announcement, was it.

From page 5 of SFPIBABM:

"The Tape Tells all." That's more than a cute slogan, it's market philosophy that works. What it simply means is that all of the relevant information about a company's earnings, new products. management, and so forth - the fundamentals - that is currently known and cared about is already incorporated in the price of it's stock.