The traders interest is to maximise exit position, nothing more. We have seen this over and over. There is no sinister purpose to keep the price low for a justified reason, it's just a simple exit strategy.
Long term with the fundamentals being the same and in BTR's case gaining strength, this exit stratagy of a SHORT position offers a LONG position to BUY at a lower level.
Unfortunately the LONG investor in BTR's case is happy with thier current position and sitting on the side lines. This in turn offers the SHORT position very little in the BUY side and will therefore SELL into the LONGS as they appear and may take time to exit. The BOTs buying make it appear that there is accumulation, thus creating a false picture to some who may BUY into the stacked SELL depth.
Again with all the current economic turmoil within the markets the SHORT is exiting based on risk etc.
Remember a SHORT position can be between 1 day to 1~2 year with medium veiw 2~3 years and the LONGS greater than this.
If I traded BTR SHORT over a 1 year position I have easily doubled my money on EXIT today.
The only way BTRs SP will travel north is when positive sentiment returns and or when further drilling results of Copper/Gold etc are above expectations. This will then reignight the volume and interest.
In a LONG view in my opinion only we cannot go wrong from here and don't feel 'sad' see this as an oportunity. I did last week with a further 5K at 65c
More than happy to grab a few more if the opportunity presents itself if SP dips to 55c. I did that back in May with 10K at 56c and maintained that holding as a LONG also. Don't want to pay more tax than I have too.
Anyway food for thought and each to their own as I am more than comfortable with my holding.
Cheers, Snap
BTR Price at posting:
61.8¢ Sentiment: LT Buy Disclosure: Held
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