Just a quick follow-up on this particularly thread - ie, 'this is the strategy big boys/girls use'. See broker data for 5th-6th May below (the high volume days); and you'll observe the strategy I referred to in action: - Note Morgan Stanley (instu) absorbing a big sell from commsec (retail). - In times of major downturns, you'll always find this same situation - retails fully committed and selling from fear; while instu is cashed up (or has cash available) to capitalise. Retail often get lured out to sell (via tempting 'end the pain' opportunities), at the most inopportune of times - always ask yourself "who is at the other side of the trade?" (before you buy or sell). Instu's are vultures; but retail is agile. - It's a painful lesson, which I continue to learn to this day - ie, always have capital ready for unforeseen events to capitalise.
Enjoy the weekend. Interesting times to come, as things continue to heat up in the basin.
PCL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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