the chart is by no means technical, Hotfire normally posts the technical charts which show resistance levels, overbought oversold indicators and so on. This is very very rough presentation if i get a chance i will tidy up:).
What i am attempting to do (still work in progress) is to overlay announcements over the movements in SP and level of short stock.
What i am hoping to show in the graphs (when finished): 1. the short sellers came in a big way in Feb 12 to May 12= +12.2M, Cum Shorts to Jan 12 = 285K. 2. What announcements came out that may have lead to investors (locusts) wanting to short. 3.June 12 to Feb 13 short position has only increased 1.3M 4. Overlay broker opinion - am sure around Feb/March cap raising came in. Coal price cacked itself in June, so shorts were ahead of the curve- am thinking that the coal price had little to do with the short. 5. Feb to May shorts increased +9.3M, share price held up - $1.70 to $1.08. Low came in after the short hit peak. 6. SP Collapse June 12 to Feb 13- when short pos change only +2.8M...
Conclusion: No buyers for the stock!!! confidence in stock shattered by shorts and no investor relations/promotions to support the stock post May.. Fundamentals hadn't changed. In june was when the deal with the japs & Gene collapsed, around then that the funds assumed that CPL would have to do a major cap raising for the 900ML capex and as such major dilution. If anyone can find the first date when funds assumed a cap raising that would be great- i am sure it was apr 12.
Interesting that later 2012 every time an announcement came out - stock got shorted..
NB i have included only those ann- regarding funding & progress. excluded 3b's, directors, quarter cash etc.
Conclusion: Management has been crap in supporting the stock, it is getting de-risked yet our SP is going down.
bring back Ian Middlemas and Anastasios Arima!!!!Just look at what they have done with PDZ.
CPL Price at posting:
82.5¢ Sentiment: None Disclosure: Held
(20min delay)