Want to see shorter's in action. Have a look at ACX today. It holds the No2 position on the shortmans top 100 most shorted stocks. TFC holds No5.
ACX released a report outlining sales were up and also down grade expectations for the future. Well this just wasn't up to market expectations.
The stock CRASHED 44.5% today from 5.65 to 3.15 at the time of writing. Food for thought on how shorters can work to exaggerate slightly negative news.
As I posted on the 29th of December I sold a most of my portfolio covering several sectors except the gold miners. ACX was one of these stocks and today bought a third of them back at 3.16. Over the next few weeks may buy another third if the price continues to drop, we'll see.
Cheers Lies
TFC Price at posting:
$1.60 Sentiment: Sell Disclosure: Held
