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17:48
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Originally posted by Darkstone:
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I agree. It is the strangest extended trading pattern for probably the last year. Not at all sure how to read what's happening. If it wasn't for the fact that the whole thing has been manufactured by shorters in the first place, you'd say we had seller exhaustion, but I don't trust that. The buying comes in waves out of seemingly no-where so it looks like the shorters are nervous about leaving big trades on the sell side where they can get cleaned out, and they seem to be doing what I call the "sneaky shorts" where they sell into the buy queue without ever placing the order in the sell queue before hand - hence no attempt at manipulating buyer psychology with big scary orders. When they do occasionally place a scary order they run away as soon as the buyers creep up to them. So the sell queue doesn't reflect the actual sentiment at any point. But even that looks a bit half-hearted - like they expect at any minute that a massive buyer wave will arrive and sweep up the sells.. which it does do a couple of times a day for no apparent reason.
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Would be a lost opportunity to put a floor in the share price on friday and announce will meet Q3 shipping est. by not having another ship booked for Sept.
