My guess is that there will be more buying by instos and funds when it gets listed, as many require such a status for a share to qualify under their business model. Until it is listed there, their charters may prevent them from putting funds into a company (as a statutory or policy matter).
Your view of the timing of a re-rating seems a bit close to the wind to me. That is, the market is usually well in front of events, and that production will occur before year's end. That's why I hold my view on our "bet" and why I believe that upward pressure will build from here on to production and then beyond.
Shorting would benefit by low volume so that a party can influence the movement of a share personally. In the case of a BHP or a RIO, the shorter is doing nothing more than gambling. And that's why I call it manipulation. You or I can't manipulate an ASX50 company, but with my own holding I could have moved the price one way or another by 10 cents at any time in the last trading day. And I'm no Warren Buffett.
You're right about not being able to do anything about it. It's an ugly part of market life. I also agree with you that it's an accumulation play. That's been my take on this for months now. As you suggested, perhaps riding this with the shorters is the way to go. Buy at the close and sell at the open. Might give it a go. I expect this week to be savage. It's the week before the ASX300 listing, and whatever positions are trying to be established will want to be in place by Friday arvo.
Cheers back! ST
GXY Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
