SYR 3.17% 32.5¢ syrah resources limited

Reasons to fill up those Christmas stockings with SYR shares, page-8

  1. 2,808 Posts.
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    I've been watching the shorts closely and wonder out loud how they are going to cover. It will be interesting as I can only see 3 ways they can do it (unless SYR is a con job LOL hahahaha ).

    1. Create a stampede to the exits by retail investors.
    2. Hope that insto holders have a trading rule that hits the sell bottom at a certain low level.
    3. Hope that SYR are going to do a cap raising to instos that give them special access or priority to buy and cover their shorts.

    I doubt the shorters can rely on hitting a large amount of stops. Retail investors don't use stops as a norm. Using stops is not smart for long term investors contrary to what many advocate. Since shorting has been introduced and taken off, putting in stops for retail investors is mana in heaven for the pro's.

    Anyway, just watching the sell trades their doesn't seem to be many retail investors hitting the panic button. There is a lot of churning by the shorters or market makers going on. On the buy side there appears to be plenty of retail purchasing in small quantities although that has dried up a bit this week.

    So, just some thoughts out loud and feel free to add any other thoughts.

    I have no idea how the daily gyrations are going to pan out, but I do have a strong feeling it won't be exactly how the shorters are planning and/or hoping. It wouldn't surprise me to see this SP drop into the high $1 mark. However, I've stopped my swing trading because the risk is too high now. It wouldn't surprise me to see the SP quickly move back up into the high $3 mark or above. It could even happen before the realise of the DFS, but certainly will in my view after the release of the DFS.

    Seat belts are compulsory.

    Cheers
 
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Last
32.5¢
Change
0.010(3.17%)
Mkt cap ! $336.3M
Open High Low Value Volume
32.0¢ 33.5¢ 31.5¢ $1.380M 4.243M

Buyers (Bids)

No. Vol. Price($)
11 126793 32.5¢
 

Sellers (Offers)

Price($) Vol. No.
33.0¢ 209602 3
View Market Depth
Last trade - 16.10pm 12/07/2024 (20 minute delay) ?
SYR (ASX) Chart
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