The Pro's had a very good day on Friday and picked up quite a few million at very good prices compared with what they expect to distribute them at another time. They also lowered their average price of the ones taken on the day. They also churned quite a few they have held for a time, while making their quarterly results reports look good. It is a business for them and they will make sure they profit from it. Most of the time it is boring for them, and difficult to get more than a percent on a good day and not every day is a good day. Use the news and push the reaction to it. The news is just a cattle prod.
you know most if not all of this, it is just an equation, but it is relevant to bring it up during volatility.
Basically the market is self levelling and shorters have a role to play in that, anyone who whines about them NEEDS a reality check.
The SP is a constant battle between reality of fundamentals and greed of holders, hope plays a huge part as well. (emotions outweigh fundamentals two to one, the shorter the holding period, the stronger that holds true).
AGO PRESENT PRODUCTION supports a 2.80 SP, from an astute brokers analysis months ago. (cannot remember which one and not going to look)
That means that everything above 2.80 was based on a bright future. I hope we can agree that AGO has a bright future.
Recent holders (6 months) by what ever method, always have various reasons to want to get out and there have been plenty of both new holders and reasons lately, so time was very very ripe.
recent news was IO will be in oversupply situation in not too distant future. (pretty much every miner got smashed)
Global slowdown blah blah blah, capital protection blah blah fear blah blah.
Professional traders seizing on volatile period to push the price in both directions to trick quick, new, and recent holders into and out of the stock.
(just look at intra day price MOVEMENT on Friday to see that in NEONS.) prev. close 3.30, open 3.16 > 3.06 > high 3.20 > low/close 3.04
Short sellers have a valuable role to play in the market. They take some of the Ponzi Scheme aspect out of the it. If shorting was not possible, "pseudo investors" (hopefuls) could only make a profit by selling to other hopefuls and the SP would be so far above value-reality driven mostly by stubborn resistance not to sell below buy-in price that the fundamental value would not be there and the market would be a complete joke 2007 and collapse in a 2009 heap all the time and there would be no real investors, just hopefuls.
The market still has a lot of Ponzi scheme EXPECTATION about it, especially from people who do not understand it or have no time to put into it.
Short term holders are the most susceptible to price swings, which is why long term holders like being long term holders. The company itself also likes long term holders from a stability and direction point of view. (the complete antithesis of this are "investors" who chase companies around just to get the dividends.)
The market is made up of Investors, Vultures, Hawks, Seagulls, and the Herd. Friday was Hawks and Seagulls day. The Hawks brought the price down which also made it a good day for Investors to add to holdings and will make subsequent days good for Seagulls.
I don't care..... it doesn't change my reasons for holding Atlas.
ifandwhen
AGO Price at posting:
$3.04 Sentiment: LT Buy Disclosure: Held
