LKE towards TOP-5, page-7979

Definitely a coordinated short attack today. The signs were there:
- 37M shorted last Friday (more borrow after entering the ASX200)
- the naysayers on here spreading their FUD multiplied over the last few trading days
- biased “news” articles appearing on the downside. GS, CS and now MF and newspapers climbing on
- big volumes in the red started right on 1pm today….looking very coordinated from the outside
- the hard push downwards will be characterised by a lot of cross selling - designed to give the illusion of major panic selling by holders. Retail will get sucked into the vortex and a lot will sell.
- stop losses will be triggered and your shares will be taken from you…sometimes, so quickly, without you even knowing until it is too late!

Unscrupulous if you ask me but hey, it works for the big players and the ASX and ASIC don’t do anything to stop it.

The big players shorting will have their feast and they will move on at some point. They have to time it just right and buy back their loaned shares before any positive announcements start flowing - otherwise they are the ones that will be caught out…depending on where they shorted. The smaller players jumping on board after the initial downward swing, clamouring to copycat and get on the shorting bandwagon are the ones that will have to watch out! They will get on after the SP has dropped significantly, their returns will be lower and they are the ones that will be left holding the bag when those announcements drop and the SP starts to rise again…..which it definitely will IMO. The big players will quietly exit their short positions and will leave these unsuspecting smaller players to be the ones that get burned. I’ve seen it all before.
The fundamentals for Lithium and LKE are still very much there. The timeframe may have changed a little. Those positive announcements will still be on their way. The Shorters that get in and out before those announcements will get their fill…and us long term holders will get our turn at the trough (with IMO bigger returns) very soon.
Do what is right for you and your risk tolerance. I’ll be holding firm through this period and look forward to the benefits of doing so. A lot will learn from this experience, that is for sure.