A question for the very experienced traders in here if i may?
(The violent trading at around the 3.6 to 3.9 mark on the 7 th)......Would that have been short squeezing from panicking bears?
There's no listing on the ASX for shorting RAU so it doesn't appear a shortable instrument.
Can brokers short on the sly?
The reason for the question is that for mine, an argument could quite easily be held for RAU to trade up to around the 3 cent mark based upon the LIGO shares and perhaps, even for 3.6 cents for a measured move but up to the 4 cent mark was always going to be very big stretch yet we saw some quite large buying (For this flea ravaged mutt anyway) at the high 3's.
I can't fathom anybody considering RAU being a reasonable buy at around 4 cents so who was buying?
The crystal ball worked beautifully that day.....Set a 1.8 buy at 7:30 am sweating on a gap up bleed-off from the previous day and got out by the skin of my teeth at 3.7.
This dog still owes me around another 5k though after taking at face value the written statement to both RAU and The Aust Gov that Morales did not intend nationalising Amayapampa.
Pain is an absolute must for cementing the value of trend lines.
BIG Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
