I hereby declare 'Elphamale' to officially be the meaning of an...

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MrScofield

91 Posts.

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22/06/18

17:56

Post #: 33892332
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Originally posted by elphamale ↑

Must admit I too was a little surprised but clearly the volume seller wasn't satisfied with a 3 month low target of 1.2c and successfully brought it down a further pip to a 6 month low (at 1.1c).

So now we've traded from a 6 month high (1.9c) to a 6 month low in just 8 trading days (48 trading hours) and during an opportune time where there are only 5 trading days remaining before the EOFY. The deed was done on slightly less volume (again) today but the line wipe at 1.2c was swift and aggressive nonetheless.

The good news is the majority of TA indicators on both intraday and daily charts are screaming oversold, so if one can afford to hold then now is not a good time to be selling IMO. In fact I'm actively doing the opposite and am in line for another large chunk at 1.1c and will place 3 larger orders at 0.8c,0.9c and 1c if the volume seller dares to go there over the next week or so.

Folks, this is share price poker at it's finest, and on the back of TV2 signing it's first multi-year deal with a multi billion dollar organisation there's no logical reason to be selling at these historically low levels unless you are attempting to;
a) call everyone's bluff in order to generate a lower VWAP, then convert or buy back at a discounted price to the average VWAP or
b) generate substantial losses in order to minimise capital gains / taxable income for the 2017/18 financial year or
c) all of the above

Personally I detest this type of shenanigans that causes unnecessary stress and forces the hand of many a small retail investor/trader, but if one understands the game and does not panic then he/she can use it to their advantage.

GLTA and have a great weekend.

Cheers
Elpha

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I hereby declare 'Elphamale' to officially be the meaning of an Alfa who is also a leader in that of the of the brain as well as brawn. Great post(s)!

Last edited by MrScofield: 22/06/18

TV2 Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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