Some months ago I mentioned it might be good idea to short TPI and buy TPAPA. This turned out to be a wonderful trade!
After commencement of trading, TPI tumbled to $1.15 and TPAPA jumped to around $50. Only problem as always was I should have done in bigger size. Having closed out my shorts on TPI at lower levels, I wanted to sell short TPI into the rally yesterday but I found that no CFD providers were allowing short selling due to shortage of scrip lending. This could be one of the reasons behind the rally.
However, today, one CFD provider I deal with (and there may be others I do not know about) has capacity to buy TPI CFD's. As scrip becomes easier to access, this capacity will spread to other CFD providers including COMSEC so I would expect some selling pressure to shortly hit the stock
Any views on this?
TPI Price at posting:
$1.28 Sentiment: ST Sell Disclosure: Held
