Mitta, you have a frame of reference that the mythical “they” manage prices up and down. That’s OK. I just have a more simple view. That it’s Lynas own retail shareholders and amateur daytraders that are kicking it around.
Have a look at Fezza333’s post on the other thread yesterday (Post #9525541). He/she boosts of selling at $0.46 and buying back at $0.41 because that’s the typical response shareholders have been conditioned to and yet expresses their pride at being a long-term holder and has a go at shorters.
Shorters are not the problem here and I’d be surprised if any new significant short trades were opened at these levels. Shorting is an honest trade where a short will stand in the market and take a risk on direction exactly the same as a long position will. Good luck to them. The problem is when retail shareholders are conditioned to sell into every little rise with the hope of buying back cheaper and then day traders sitting at home in their bedrooms jump on board to also scalp a few cents here and there as well, then the long side keep getting worked over. Three steps forward, two steps back.
The evidence is in the Hot Copper posts, the retail brokers like Comsec, Etrade, Citi (warrants), RBS topping the most active lists. I can’t remember the last significant shareholder form, the big funds are simply not active in this. No wonder Eric won’t feed the trading with any announcements. You can also see it also in the pricing sign-posts. Gaps closing and fib retracements are retail signatures.
Lynas is trying to get off the floor at the moment, but it won’t be successful until retail holders hold their nerve and stop selling into any rallies. The tide’s turned, but you people are making it hard.
Yes Warnie, at $0.90 we will know we’re in the bull phase again. But we have to start somewhere.
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Last
$7.62 |
Change
-0.180(2.31%) |
Mkt cap ! $7.178B |
Open | High | Low | Value | Volume |
$7.78 | $7.80 | $7.59 | $7.575M | 988.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
35 | 6340 | $7.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.62 | 7640 | 27 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 17785 | 7.590 |
18 | 33149 | 7.580 |
12 | 20492 | 7.570 |
7 | 4526 | 7.560 |
10 | 36388 | 7.550 |
Price($) | Vol. | No. |
---|---|---|
7.600 | 9768 | 17 |
7.610 | 19840 | 19 |
7.620 | 5248 | 17 |
7.630 | 13871 | 18 |
7.640 | 11192 | 13 |
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