Being listed in the ASX500 opened the door to a whole new profile of traders. We no longer had just Long Term investors and short term traders, but institutions were lending shares to professional short traders. No doubt they had seen the meteoric rise of ADN and came in boots and all causing fear and panic selling with cleverly worded fake news across all types of social media. This was probably helped by the fact that the shares at that point in time may have been overvalued to about 20% ... all of us reflected on that too good to be true price action. So it was the perfect setting to start a landslide ... throw in doubt, cause anxiety and people suddenly wanted to realise their gains. A chain reaction ensued with stop losses kicking in and people jumping overboard left right and centre.
This was not helped when a Top20 holder bailed as well... thank your personal invisible friend that Pezz had the balls to resist this course of action as he is a mainstay in all of this.
I read all of he laudible things that that T20 seller has done with his profits (nice one sir), but it really exacerbated the situation for the rest of us faithful long termers.
The thing that seemed to disappear was the logic ...nothing had changed .. all the fundamentals that make ADN a life changing stock were and are still there. We were just victims of unscrupulous mercenaries who go about making profits at the cost of genuine investors ... some who may have lost a great deal of their life's savings/super/pensions. Callous, cold and pre-meditated unfair manipulation! It should be illegal IMO.
For the faithful who did not sell a share (moi and thankfully many others), our ultimate goal remains unchanged and that is to go to mining and beyond. I will be leaving a large sum of my shares to my picaninnies. ADN will repay our faith handsomely.
The shorters are now getting worried (or at least they should be), because to pay back the loans they need to buy our shares. As of yesterday there were about 34 million short shares outstanding and only 6.5 million shares for sale ... so their tactics are going to be to try and rattle everyone again ... cause more panic. BUT THE WEAKER HANDS HAVE LEFT THE BUILDING AND THE REST OF US ARE STANDING STRONG TOGETHER!
To thwart this attack we have to act as one and hold onto our shares .. wait for the news, which is not far away and off we go again. The panic will transfer to the shorters as they try to exit ... to exit they need to buy ... to buy they need to cough up ... we hold the cards here ... let's stick this out as a team!
It would be nice if those who sold start to re-enter .. keep the cream and get back on board. Especially that Top20 lad could make a huge difference too.
In the final analysis "he who laughs last laughs the loudest!" ... I've already started giggling and at the Poochera Pissup you'll be hearing us in Darwin
GLTAH IMO.
ADN Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
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