The flatline is killing the shorters, 3 attacks by day trading shorters all failed miserably
3.3c to 3.1c failed
4.0c to 3.5c failed
4.0c to 3.7c failed, now holding 3.7/3.8
Its the LT shorters that are watching and weighing options right now, they are tossing coins and sweating bourbon. if it cannot go lower its time to short cover & BUY thats right BUY to cover their shorts. They have some 100M shares short that have to be settled on market as a forced BUY. Once they start buying to cover its a massive short squeeze that will break out.
Large volume of 160M shares traded less than 6.5% of total shares. The longer this flatlines the longer the DT shorters fail, looks like an accumulation buyer is here soaking it all up, once the momentum shifts, which everyone is looking for then watch out.
Cmon is that all you got you whinging downrampers! Sell us some more loosers!
The accumlation buyer is soaking this up, must be AF & FMG old boys or chinese steel mills like they did with BCI & FMG bought low. Looks like the fencesitters are being shown the way by a several accumulaters.
The longer the flatline here at 3.7-3.8 the more likely a spike up imho. If it cracks 4.0 then watch out for the DT buyers ramping this up. Its setting up nicely for the Longs & DTs.
AGO Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
