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13:03
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Originally posted by LJSM:
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Interesting to say the least. Still good volumes today and I think it bodes well at least in the short term. Amazing how the traders and dreamers seem to appear at the same time. In reality extremes are generally not sustained either way. At $2.50 on the back of the loan and bullish EV news was probably over bought (dah) , at 40 odd cents over sold. Nobody knows what you can't know and that's the situation until the fallout is known. But it's obviously good news for SYR and I believe the current price is well deserved off the lows. I don't know how shorts operate and you would need to be on the desk of the big guys to understand the mechanism, especially today with algorithms and computer generated trading. In saying that, the only historical shorts I calculate in the money is 33 million back in May with 40 odd million out of the money above 77c? Of course the numbers can change and re-set but you'd be pretty brave to short now IMO. Perhaps ego's get ahead of abilities sometimes. We'll see when the data is available.
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They'll get some free cash flow when they receive the DFC loan. Part of the $150m DFC loan is a back payment for the TSF 2a expansion which has been completed. $30m-$50m maybe. Not sure.
(20min delay)