Could be an interesting week for the shorters who have yet to recover their positions.
This is of course the risk of going short, suddenly it can spring back like a rubber band as we all witnessed on Friday and you can end of with your pants around your ankles very quickly.
Time becomes your enemy, because with each passing day the risk that LNG come out with some good news hangs above their heads like a dark cloud.
Friday was frantic because not only were there investors who genuinely wanted to buy in at the low prices but at the same time shorters wanting to cover their position.
That made for an interesting days trading which is what we all got .
More then 20 million were traded which definitely set the cat amongst the pigeons.
And you are right with your observation Borty, the opening volume buying and selling has a much different look about it then we have seen for quite some time.
For the first time in along time we have more buyers then sellers. Usually we have been seeing 3 times as many sellers compared to the buyers.
LNG Price at posting:
$2.96 Sentiment: Buy Disclosure: Held