sharetrader
  1. #11341
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,855

    Default

    Quote Originally Posted by Muppett View Post
    Hopefully when the Aussie opens, the SP will get mauled.
    Waiting for your entry price Muppett??

  2. #11342
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,487

    Default

    Quote Originally Posted by Sideshow Bob View Post
    Waiting for your entry price Muppett??
    Plenty of shor tcoverings today to lock in profits. Unlikely any mauling!

  3. #11343
    Member
    Join Date
    Nov 2011
    Location
    Cuba
    Posts
    216

    Default

    Quote Originally Posted by Sideshow Bob View Post
    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.

  4. #11344
    Member
    Join Date
    Nov 2011
    Location
    Cuba
    Posts
    216

    Default

    Quote Originally Posted by Balance View Post
    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..."

  5. #11345
    Investor
    Join Date
    Jul 2014
    Posts
    5,643

    Default

    Quote Originally Posted by Balance View Post
    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....

  6. #11346
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,487

    Default

    Quote Originally Posted by Muppett View Post
    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.

  7. #11347
    Senior Member Lego_Man's Avatar
    Join Date
    Feb 2009
    Posts
    556

    Default

    Quote Originally Posted by Balance View Post
    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.

  8. #11348
    Member
    Join Date
    Jun 2018
    Posts
    178

    Default

    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

  9. #11349
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    Just did my voting for AGM online. Voted against all current directors up for re election.

  10. #11350
    Member
    Join Date
    Nov 2011
    Location
    Cuba
    Posts
    216

    Default

    Quote Originally Posted by 777 View Post
    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!

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •