Originally posted by Birchcorp
You are not that silly to think a SP is based on one days trading, or even a week for that matter. If we are looking at a very short term view (which is not how I view the world) the Dow is up x2 days-therefore a bounce in ASX is a certainty, shortcover is at 50% every day last week for AMP with volumes sold at 6-9 times a typical AMP sell day. On the day of the fall 35M shares were actually short sold, 10M the day prior, so more than x5 day’s volume has to be purchased back by these individuals or instos. With all these shares that are required to be purchased back, it remains a fake market at present. Throughout next week there has to be some serious BUYING to cover all these shorts with 5.6days allowed to cover them.
Mate, markets move in cycles-they go up and down, and so do individual stocks, if you rubbish every stock, you will Eventually get it right, that’s a certainty, as stocks move up and down, there is no pointing gloating and demanding we follow your advice as per your many comments to people on various threads, You have in fact stated the obvious. AMP will rebound next week as short positions have to be covered, and 180M that were sold have to re-purchased, that’s serious buying this week. Manipulating the price is a business, And as sure as the prices come down they move up, I am not a genius, it’s just stating the obvious that the share price will increase in a big way. That being said, if they short again, then price increase will wait, but it will come and in a big way.
Just maybe, with how negative and bias you are, there is something you aren’t disclosing, maybe you hold some open shorts, you just may need to close those out quickly, as the significant increase in the Dow and the shorts that require covering over the next week, or something has really got you fired up about AMP... good luck with all that...
No I don't believe the price is based on once day of trading. I believe it is based on the underlying value of the business. That's why I called this stock a dud when it was $4.00, $3.60, $3.00 and when it rose to $3.30 I maintained my view and now it's at $2.38.. My views have always been supported by analysis of the facts and I have stated both of these on many occasions and my views are supported by the current share price. All of this time you have been calling this a buy.
Now you attacked me for these views and since that time the stock has continued to plummet and during this time you have repeated your foolish "buy" recommendation without anything to support this whatsoever. Now you are dribbling on with some nonsense about cycles, a bounce , volumes and a fake market etc. But everything you have said about this stock has been wrong. You have even just stated that you expect the share price
"will increase in a big way". You even doubled down on your drivel by calling me biased when I haven't been wrong about this stock yet!
Here is my advice to you. Next time you attack me for stating facts just remember, you're on a hiding to nothing. Nothing you have said so far has proven to be correct and the share price proves that. If the truths that I speak are inconvenient to you I'd suggest that you ignore them and move on.
I really do have to thank you however. Thank you so much for letting me know that the stock is on the way up in a big way. I definitely know for sure now that the stock is going to drop again next week.
Ever heard the saying about fools and their money? Just askin'
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