FMG has a huge amount of short sellers - often 50% of the volume on any are day is short sales (see last photo)
if people line up below the current price thinking they are getting a bargain, the short sellers will see that people are afraid to pay the current price and will sell down to them. A beautiful example in the se
ries of pictures below (obviously some of it is short sellers setting things up for themselves but a fair amount is probably the buyers looking for a bargain and guaranteeing they will end up in the red)
1) 120k shares wanted at $8.75 And 8k shares to sell at $8.76, people wouldn’t pay $8.76 so the $8.75 got taken out, next picture 2) having not learnt their lesson 5 minutes ago, incompetent buyers line up at $8.74 and won’t pay $8.75, 3) five minutes later the $8.74 are taken out
and now we are down to $8.64.
cough up the cent and you will spare yourselves and others the pain.
How not to buy FMG shares
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Last
$18.96 |
Change
-0.210(1.10%) |
Mkt cap ! $58.74B | |||
| Open | High | Low | Value | Volume |
| $19.06 | $19.17 | $18.92 | $42.84M | 2.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1826 | $18.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.96 | 422 | 2 |
View Market Depth
| Last trade - 11.24am 01/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |