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25-10-2018, 11:10 AM
#11341
Originally Posted by Muppett
Hopefully when the Aussie opens, the SP will get mauled.
Waiting for your entry price Muppett??
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25-10-2018, 11:12 AM
#11342
Originally Posted by Sideshow Bob
Waiting for your entry price Muppett??
Plenty of shor tcoverings today to lock in profits. Unlikely any mauling!
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25-10-2018, 11:15 AM
#11343
Member
Originally Posted by Sideshow Bob
Waiting for your entry price Muppett??
I am.
Sold the lot when SP in the low $11.
Now need to get back in before the AGM, hopefully towards the bottom of the $9.00-9.50 range.
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25-10-2018, 11:18 AM
#11344
Member
Originally Posted by Balance
Plenty of shor tcoverings today to lock in profits. Unlikely any mauling!
Good day to buy then?
How do work out / know the specifics of as you say: "plenty of short coverings today..."
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25-10-2018, 11:24 AM
#11345
Originally Posted by Balance
Plenty of shor tcoverings today to lock in profits. Unlikely any mauling!
Yep, cover old positions opened at higher price to lock in profits and be ready to pounce again when another opportunity arrives later on....
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25-10-2018, 11:28 AM
#11346
Originally Posted by Muppett
Good day to buy then?
How do work out / know the specifics of as you say: "plenty of short coverings today..."
Good day to sell!
Wait for them to cover and then, they will short again.
Record number of short positions in ATM as of last night, I understand.
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25-10-2018, 11:35 AM
#11347
Originally Posted by Balance
Plenty of shor tcoverings today to lock in profits. Unlikely any mauling!
You've hit the nail on the head in terms of the important role of shorters in a market.
Shorters actually add liquidity to a market; to de-risk and take profits they need to buy back the stock, providing a counterbalance to a selling wave which is initiated and maintained by liquidating longs. Ironically shorters can actually help to prevent price undershoots, although many will actually find that concept counterintuitive.
Unless a participant believes A2 is worth zero (i.e. fraud), they will have a price target where the risk/reward of staying short doesn't make sense. Whatever that point is, it means that there is some fundamental floor under the share price where there will be a mass buyback of short positions. Which then puts the onus back on the longs to put their money where their mouth is, and move the price upwards again via organic demand. That's the beauty of a free and competitive market.
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25-10-2018, 01:30 PM
#11348
Member
I quite enjoy the shorters causing so much volatility. Got another bargain purchase this morning and will be looking for more in the future.
The shorters could be in for a shock when many longtermers purchase at these very attractive prices. Lower supply for them to cover just means a bigger squeeze.
As always buying with steady hands for the longterm at good prices is always a recipe for good results
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25-10-2018, 08:59 PM
#11349
Just did my voting for AGM online. Voted against all current directors up for re election.
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25-10-2018, 09:03 PM
#11350
Member
Originally Posted by 777
Just did my voting for AGM online. Voted against all current directors up for re election.
I like it.
The Trougher is seeking election to the Board. Maybe she doesn't get on!
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