While it's easy to think that there was a mad panic at NVA yesterday possibly it was just a reverse of what happens when short sellers try to drop the price and trigger stop loss orders as we have seen here.
There is a very good chance that most of the people with short position on NVA had a stop loss order (to buy the shares if price goes up to a particular point) and these stop loss orders got triggered putting upward pressure on SP.
Some of the less "aware" short sellers probably lost a fair bit of money.
These games work both ways.
General comments/chat, page-27722
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Last
0.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $23.75M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.7¢ | 0.7¢ | $48.48K | 7.056M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 65 | 22147619 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 12631090 | 12 |
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