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7,777.7 s&p/asx 200

totally agree, glad to see shorting positions being taken up

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c791517

797 Posts.

28/07/16

10:49

Post #: 18386092
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Originally posted by rvm ↑

Retail shorters are being screwed. Today, they paid a few shorts around 5570 area, make the successful ones think that it's going down, but price stays just above 5565 area(where they sucked in shorts yesterday). The price action is offering hopes to shorts and makes them believe that XJO is going to fall off the cliff. But, this is simply a ploy to lock shorts at a specific price. Once there are ample shorts in a specific area, market grinds up and never touches the previous price again. Since morning there has been a 4% increase in overall short positions.

PS - even if XJO falls off a cliff, brokers won't lose money. Market was 80% short around 5470 area and 50% short around 5570 area. About 50% shorts are trapped below 5470 and lower levels. If the market drops, only new shorts will get paid and brokers will get rich....

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totally agree, glad to see shorting positions being taken up
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