I don't short TFC either. Just try to sell high and buy low as many times as possible. I only have a small nominal holding (under 50) currently for my account tracking purposes. I always keep a very small holding of every stock I sell. Periodically I go through all of them to see what happened to them after I sell. Its part of my trading training exercise. It shows up the wrong decisions as well as the successes.
As per my ACX they are continuing to run lower currently at 2.88. Powerful and greedy shorter's. I bought back at 3.16 a third of the stock I sold at 5.67 and 5.10 in hindsight it was bit too early. It looked like a bargain. The next ACX support is around 2.50, if it get towards there I'll pick up another third.
Back to TFC. Will the shorter's who have made TFC No3 on the list make a play. In my opinion its only a matter of time. Since the 28th of Dec by the use of BOTS on very small volumes have managed to get the price down from 1.68 to 1.58. When the action really starts they will be trying to trigger the STOPS that retail traders and maybe a few institutional traders have in place. Also trying to make the retailer traders with no stops to panic. They have a history of being very successful at this.
The BOTS , selling and buying with volume will be used in combination, that the sign that the game is on.
When is a guess. The most likely candidate is a day when the world markets across the board experience a significant plunge. But that's just a guess. February as I explained in earlier post is historically one of their favourite pigeon plucking seasons.
This is my opinion for what it's worth. DYOR
There is nothing wrong with just holding on to the stock through their play if it happens. There's nothing wrong with holding on and topping up at lower prices if you have the cash. There's nothing wrong with getting in at lower prices. The only thing you can do wrong is to sell into the play.
I will be trying to emulate my ACX play. I'll be trying to buy back a third of the stock I sold at around the 1.45 level. If the price falls to around 1.39 I'll pick up another third. At that time I'll put in another multi day buy order at around 1.35 for 3/7ths of what I sold earlier. If it doesn't reach down that far that's OK. If it trades but goes lower that's OK with me as well. You can't always pick the bottom , but you can give it a shot. If it all works out I'll end up with more shares than I sold and maybe have some cash to spare from the deal. And if its continues to swing like it has done for the last two years then in 2-4 months we should see the SP somewhere between the 1.65 to 1.80 mark.
And then do it all again. Good luck folks.
Cheers Lies
PS Notice that I have changed my sentiment from a sell to a hold.
TFC Price at posting:
$1.56 Sentiment: Hold Disclosure: Held
