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J P Morgan is a constant seller. Plenty still to go as well
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Attention all horseshoes, but particularly Blue
Originally Posted by Xerof
J P Morgan is a constant seller. Plenty still to go as well
I have just read a comment on the ASX BTU thread posted by macduffy, who says that Morgans are buying back a short position, established by borrowing shares, and selling them as step one. Now they may be buying back as step two, and filing SSH notices which give the impression they are selling down. I.e. as they 'return' the repurchased shares to the original owner, their holding is reducing.
I would have to say that seems a more credible summary of what might be going on. It is common practise in both equity and bond markets for this activity to occupy the minds of proprietary traders within these trading houses across the globe
Apologies if I have put you crook
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Thanks Xerof, but this still poses the question... who is then the seller or sellers? Or are there more short sellers in the market? That seems a bit far fetched as it is at prices where a short is very dangerous.
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Member
Thanks for that Xerof, So what this really means is that small holders don't have a chance when the JP's of this world short sell the shares to rock bottom, deflating all faith in the stock so when they buy back there are plenty of disillusioned sellers willing to sell.?
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Not at all. Do your own research and if the big boys have beaten the price down... you get the shares cheaper than you would have if they hadn't. I see this as a win win situation
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Price drop to 20c. Good support at 19c and I'm looking to buy. BINGO!!!
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Originally Posted by blackcap
Not at all. Do your own research and if the big boys have beaten the price down... you get the shares cheaper than you would have if they hadn't. I see this as a win win situation
So true, blackcap! Shorting is a fact of investment life and miners are prime targets!
Incidentally, the ASX publish daily stats on shorts. I access these via The Bull website. It's a bit of a tedious navigation to find the right page but easier than via ASX' own site! ( Perhaps I look in the wrong place?). It used to be that they would show the total shorts outstanding but these days it only appears as the previous day's transactions. FWIW, yesterdays BTU short activity was negligible!
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Member
The court hearing is today. So if positive then share price should fly this avo. I feel a bad decision is already priced in
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Member
Originally Posted by tosspot
The court hearing is today. So if positive then share price should fly this avo. I feel a bad decision is already priced in
That's what I thought at 45 cents. If a positive decision comes out should go to 15c going by the past.
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