"attracting a decent rate of interest" Borrowed shares usually...

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FlashFish

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15/03/19

17:56

Post #: 37779201
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Originally posted by ljcamp ↑

I doubt we have seen the bottom at $1.895.

Everyone (even ASB) knows fundamentally its worth closer to $10 than $2, however they are shorting the sector and Galaxy chart is a dream for them at the moment.

I see a bottom at $1.80. This will rebound and hard. The preceding 4 months will see us back above the high of $4.54.

The issue for the shorts is this:
a) Hold existing positions - continue to run the risk of a squeeze for another 10%? bearing in mind shares are borrowed and attracting a decent rate of interest (no doubt calculated daily)
b) open new positions - Possible return if MC blows up or LuckyDOG gets his own way and management are over thrown.
c) Close open positions - Most would be in profit even after allowing for the interest accrued.

Issue being, that there is a lack of volume for option c. Leaves option a and b in play, both of which are not pretty for shorts. RISK V RETURN. The pressure is mounting daily.

Sure they might smash it one last time down to the base line but really if you can afford to hold through this its a dream come true.

Option d. Add more shorts to the the current 16%. Squeeze on low volume, runs to $10

Dont think it cant happen. That's what they want you to believe. Fingers crossed Tony has a little surprise for them.

Enjoy the weekend.

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"attracting a decent rate of interest"

Borrowed shares usually attract no more than 1.5% PA.

GXY Price at posting: $2.05 Sentiment: Hold Disclosure: Held
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"attracting a decent rate of interest" Borrowed shares usually...

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