Ann: Trading Halt-SYR.AX, page-127

Brief follow up from my last comment on March 1

Key levels again – (with most recent ones in red)

2.39/2.44/2.5 (expected); 2.64; around 2.8; 3; 3.2 (3.15 and 3.25); 3.45 to 3.53; 3.65; 4; 4.5; 4.72

Key levels that I have been mentioning for the last 4-5 months seem to have worked out again....within a cent or two here and there.

Mar 2 – Low of 2.67 as we arrived close to 2.64 and some support appeared

Mar 3 - Low of 2.56 as we come closer to 2.5

Mar 6 – Low of 2.54 as we come even closer to 2.5 and this time closes on previous low of 2.56

Mar 7 – Low of 2.51 as we inevitably come towards 2.5

Mar 8 – Today – Low of 2.45 – one cent ahead of 2.44 that I had mentioned

Just a note that I had mentioned each of those three– 2.39, 2.44 and 2.5 as possible supports and not necessarily all three. However till now 2 of them have perfectly appeared to cushion the fall over the last few days, and it appears that my 3 possible support levels were all valid. I had mentioned these in December itself.

On March 1, when I last commented, only shortman data till Feb 28 was available but I had still mentioned that shorters chose an absolutely perfect day to cause panic, pushing it below key support of 3. We see that continuing everyday as 5 out of 6 days, shorts exceeded 0.5% including the big day of 1.45%
http://www.shortman.com.au/stock?q=syr
Charts are updated with a lag and hence we see short position continually rising to 11.89% right now (Mar 2) as SYR is now no. 6 on most shorted
http://www.shortman.com.au/top

When I started commenting on this thread giving a warning about risks that SYR is facing in June 2016, SYR was AUD 6.4 and diluted market cap as per my rough estimates was 1,749,988,717

SYR ended up with only 1 day above 6.4 and with today’s low, price has lost around 61.8%. (2.445 seems to be exact 61.8% fall from 6.4). Well, I hope it bounces here on for you guy’s sake and maybe if I’m lucky, I can get a retracement named after me - "ozpolarnacci 61.8% golden retracement perhaps "??

Diluted market cap lost over this time was around 1,080 million (1.08 billion) dollars as current diluted market cap is around 670 million as per my quick calculations.

IMHO, we of course continue to be at very critical areas as I have mentioned. These levels could be make or break for SYR, and if the bulls have to step up to the plate, then the time has probably arrived, as SYR would be losing major long term supports if at all we start going down more. If so, these levels could even become resistance later.

I don’t know where it will go as it depend on the nerves of the bulls and shorters, and how much firepower they both have at these key levels. But the shorting this month has been extremely methodical and timing near to perfect. There definitely appear to be some professionals on the short side with pretty deep firepower. If they have the will and firepower, then they can easily cause even more panic.

Good luck