further short covering on 8% drop in oil???, page-22

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simondj

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06/02/15

20:42

Post #: 14712955
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Originally posted by asteroider ↑

Sure. I have profit but annoying watching this and seeing it underperform peers/the market. I think most investors have left the market since ASIC allowed the ASX to turn the market into an algo casino. Hence whenever a big fund offloads like PPT most of the stock just goes into the hands of the algo operators. Even my broker is running algos for their prop traders now.
And when there is a massive chunk of stock (+5%? of the issue) offloaded on the market it ends up in ST algo trader hands as a result and this is the crap that goes on. Due to gradual rise in prior days I thought stock was being soaked now PPT had likely bailed out but I an just a naive mug to think there are any investors left on the ASX these days. Everyone is short term, and if they are not they are loaning their stock out to shorters.

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There is a lot of shenanigins out there, but follow the volume. Volume is key in spotting reversals. This one not out of the woods - but not much overhead resistance. Remember, the same F%^AS short, cover their asses and BUY!

MRM Price at posting: 89.5¢ Sentiment: Buy Disclosure: Held
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further short covering on 8% drop in oil???, page-22

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