Hi
@robsmark, personally I don't really care whether BRN ever trades on the NDAQ, I see so many posters on HC post their dislike of shorters. Rest assured if BRN ever hits the NDAQ, if it has any amount of liquidity it will be hit hard by shorters. I do not have big problems with shorters, the REAL enemy IMO, are the BOTS and their high frequency trading practices.
You will see this across the board on the ASX every day, small trading parcels moving the price up and down on many many equities. The trading banks which use this method of what I call price manipulation, have very deep pockets (absolutely necessary for this game) and they also use very highly paid specialist programmers called "quantitative analysts" ("quants" ) to program their computers (bots, some of which are actually deployed inside the exchanges).
Shorters are a completely different animal, shorters are trading options, I have traded options in the US, I traded Puts and Calls, but also traded in Credit Spreads and Debit Spreads as well as other exotic instruments such as Condors, Iron Butterflies etc etc. I will try and keep this pertinent though, and a complex subject as brief as I can, but at the same time provide enough basics for some small understanding. When you buy an option Put (short) or Call (long, and there are traders who will have long options on BRN too), you will look at an option chain, these are available for certain timeframes 1 month 3 month 6 month and more. The option chain will have a long sequence of options at different strike prices and will run from a series of: in the money options, at the money options, and out of the money options. Then you have to consider the Greeks - Delta, Vega, Gamma and Theta these all have a bearing on the value of the option in relationship to the underlying stock price movement. The option value can wind up being very different in value to the underlying stock in good ways and bad ways.
This is not an apology or excuse about how challenging life might be for an options trader at all, but trading options successfully is FAR more challenging and risky than the what it is for the above mentioned BOT market manipulators. With options there are so many variabilities, and at the end of the day often its all about small percentages in many cases, because the "market makers" price in a premium, on top of the price you pay for time and a range of other fluid variables. Market Makers trade off the difference in spread prices, and set a market value for a stock or option, usually with large brokerages or trading banks. One thing most retail investors don't understand is that the large options traders actually put a floor under the market in times of high volatility. I won't be getting into any kind of protracted conversation about this subject, it is complex and I have just covered off some basics here. It is something which if you are interested in there are volumes of research material available and then there are personal perspectives as well. I will repeat however that it is the BOTS that are the real nasties. I am taking the time to do this, in the interests of what I would call a more informed market.
Getting back to the NDAQ it is a deep market, so it is loaded with options traders, the thing options traders are looking for most is high volume/liquidity and preferably high price volatility, which is the main reason I had an account in the US. The Oz market is not deep enough and IMO this makes options more difficult and limited here, certain market conditions can make it less challenging for an options trader i.e the recent director sales (but I want to make it very clear I have no problem whatsover with those sales and the market was informed) but I would call it a trading opportunity for a certain timeframe. And it is still a free market and market participants really need to understand that, the price of BRN was clearly going to be traded down. I do not like traders who come onto various forums at HC and manipulate with investors fears, I find the behaviour abhorrent, it speaks to a type of desperation which I can find no respect for. Take a position and back your research and judgement in, yes there are 2 sides to every trade, but simply take a position one way or another.
Back to NDAQ you may also want to really think about tax liability, this has changed if you trade in the US you now have to have a W8-BEN (relationship with IRS). The Biden admin is going after investors hard, there is a lot of new tax increases coming for investing in good ol USA, and of course the Gov't here will want a piece too.
Personally I am quite happy to see BRN grow its SP and income streams, this will not happen overnight, having been here now for over 6 years I do have an appreciation of time and the amount of foregone investment opportunity this entails. The NDAQ is realistically several years away, but I am really convinced BRN will do very well right here on the ASX. The ASX may have its inherent drawbacks, one of which many here look feel is an under appreciation of tech stock values, it's easy to look at high flying tech stocks in NDAQ and wistfully wish for a higher BRN SP. So IMHO you want to be careful what you wish for, that NDAQ is a shark pond, BRN will probably go there one day, but one thing you can be sure of is that you will pay more tax and there will be plenty of shorters. That wishing is an energetic ebb and flow which is pretty readily discerned on this forum (and many others on HC), IMO you just have to try and keep the emotion out it. If you can do that you will be more successful with your investing, and a lot of other stuff in your life too and certainly less stressed.
BRN is now on the move, on the ASX and it will be gaining impetus, look at APT an Australian FinTech which has done unbelievably well here.The contract with MegaChips is fantastic news, and we know there is definitely more good news happening, I concur with
@greatlake it was good to see
@cyberworks drop in and always great to hear from
@Lux in Tenebris, and one last thing go BRN you good thing.
Ballistically Yours
mc
(20min delay)