Geez Stoegs you are grumpy! This things just run up 40% in 2...

First 23 Last

Share
Profile

Follow
allatsea

2,989 Posts.

233

23/07/14

09:20

Post #: 13700041
Share

Originally posted by stoeger ↑

GPASAS, as mentioned above, if the company stops trading, Shorts loose. Again that's why our pool is sitting on the fence now as we believed anything below 0.20 represented to much risk and volatility. Nothing has changed and what we are seeing are some shorts buying back in (to probably short again - Oxford Street trade). The market hasn't changed, and BLY's operating environment is still the same. They will make a further lose this half and borrow further money to remain open. Their announcement meets their legal requirement of a "reasonable assumption" (re my comments on the death of Henry Walker Eltin 2005), but that fact is that their lenders are in charge and can pull support at possibly anytime. Therefore the announcement is true "today", but no one knows if it'll be like that tomorrow. Some of the talk above regarding refinancing and what shape it may take in comparison with "09" is all wrong, as their is no demand for the product/service that their was today as their was back then. Metals were still on and the investment spend, had not yet peaked. All that's past, so any business model for the future has to be drastically different. Again, BLY has still not shown the market at what level of rig utilisation and sales (without added borrowings) are they profitable. Companies that do not make a profit, don't last. There is some excellent trading here for the brave, but not us at the moment. Good luck brother.

People "toasting" that Shorts are getting burnt, don't understand the trade, as depending on the Short's position, most have made a significant amount on BLY, trading it down, that a loose at the bottom is trivial. There is no recovery here for any longs still holding, sorry. For traders, I admire you.

Expand

Geez Stoegs you are grumpy! This things just run up 40% in 2 days, let the longs have a bit of fun. I took GSAPAS, a relentless optimist, selling as the capitulation flag. Happy with my buy, won't get me out of my BLY hole by a long shot.

BLY Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

Bitcoin investors need to know the risks

ASX hits all time high out the gate on Friday trades following bullish US inflation data

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

There are more pages in this discussion • 39 more messages in this thread...

First 23 Last

Add BLY (ASX) to my watchlist

Geez Stoegs you are grumpy! This things just run up 40% in 2...

Top Stories

Nimy to raise $1.21M to explore 'newsy' WA targets

Bitcoin investors need to know the risks

ASX hits all time high out the gate on Friday trades following bullish US inflation data

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Immutep reports strong response rate from immunotherapies treating carcinomas

Featured News