why ncm is a shorters target, page-6

I used to trade in LGL shares a while ago and these sort of movements would happen. - Gold up, share price flat to down. Eventually things would regain normality.

It used to confuse me then and, to be honest, I still don't get it. Although I do get the theory of ratio trades.

So who is selling? The kind of selling that is taking place does seem to be programmed. The way buyers stack up a bit off the bid and then in the next breath sellers just off the sell. All points to either a worked short or someone accumulating a position by forcing weak longs?

If it is a hedge fund selling then this is almost certainly being hedged by gold buying. ie the ratio trade. In this case these shorts will need to be closed at some time to lock in the trade. If no sell volume exists then boom, up goes the share price. My gut feel tells me that the current weakness isn't predominantly shorters. Its just too dangerous.

If it is a fund getting out then who knows how much they have to sell. Is CBA exiting its position?

Is it margin calls? Don't think so, although there could be a small element of this.

So who or what is causing this "against golds trend" price action in NCM?

I posted a week or two ago about the share price action being a lead indicator for either a move in the gold price or company specific news. Positioning for a negative move in either would certainly show up with this type of price movment, and this is what I am worried about.

I will continue to hold but getting increasingly nervous.