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$4.60 senex energy limited

Shorters, page-14

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oilandgasman

1,343 Posts.

102

12/05/17

18:00

Post #: 24659904
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Originally posted by Bundy ↑

Your principal understanding of the way shorters operate is incorrect.

They appear as three distinct entities:
1) Those in possession of some (as yet) unknown detrimental fundamental reason
2) Those reading a chart (which contains all known understanding and assumptions of the fundamentals)
3) Large professional institutions aware of positive fundamentals attempting to gain an advantage by running down the share price in the hope of picking it up cheaper.

The question is, which of the above reasons holds true with SXY?

I know nothing of 1), suspect 3), but can tell you with a good degree of certainty, that 2) above is not looking good, which would be drawing in a lot of short sellers relying on charts. Price has broken out downside of a triangle at 31c and also downside of the lower long term channel line at 29.5c.

In short SXY is cactus for the time being and 27c is strongly on the cards with 24c also a possibility, conformed that it is trading at it's low for the day. Couple that with the
moving average volume increasing since the end of March by 30%, and the shorts are well in control.

Management need to pull their finger out.

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Or maybe it's tied directly to the oil prices...hmm...

SXY Price at posting: 31.5¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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