Tetete Shorting SIR, page-7

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smoke87

574 Posts.

08/03/15

13:26

Post #: 14878834
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Originally posted by TeTeTe ↑

Tomboy. Yes i do use IB. But I also have several more i use as backups. I like to keep spreading money across numerous brokers, not just one. Well yeah what can I say. SIR & LNG are both my top two trading stocks on the ASX. They have nice patterns and lots of volatility. Great for a short term trader like me. I am making some decent profit on both of them. I am not one for trading from the fundamentals. I do have an idea is something is overvalued or undervalued. But all my trades are based purely from the charts.

You are right about SIR not being a producer however. I find it very difficult to understand why this stock is trading around $3 and still makes no money. All we have seen so far. Is a few so called big wigs, buying near its peak. Only to see it fall through the floor after that. I understand that people believe in the story. But making money and believing in a story are two different things. Until SIR does start making money. Producing something, anything. It will remain on my short only list. However if it does what the bulls hope it will in the distant future. Then It will go onto my long list.

Right now on the charts. SIR has and will always be a great short over $3. Once it gets back over $3 like you say. The volume dries up and the big wigs start to short it. Including me. Until we get another crash like now. This cycle will keep repeating indefinitely. That is until SIR actually starts producing something. But from what I can tell. That will not be for at least a few years. If it happens at all. Until that time, just short the rallies like I do. And profit from the downside.

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You said three days ago:

"That said. I am now looking at a possible move down to the $2.20 region. So hoping for 80c profit on this short. ".

So what changed?

SIR Price at posting: $2.89 Sentiment: Sell Disclosure: Not Held
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Tetete Shorting SIR, page-7

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