IMO all these legends about the "Big Boys - Morgan Stanley" and their unlimited power is a completely wrong. MS holds only about 10% of LYC stock. They already lent 9.7% to shorters (see ASX website on short positions). It means that they are at their upper limit already - they can not increase their shorting by more than by few million shares.
The investors (we) are much stronger than they are. What only keeps them in control is the fear and the belief that they have unlimited power. Because of this belief many investors with weak hands tend to dump their shares at any sign they perceive as potential down trend.
Remember, the stock market is all about psychology. Investors must become more confident and not dump their shares at every whim. The market is much stronger than MS and all their hedge funds. A proof for that is what happened on Friday when the law suit was dismissed. The "big boys" could not prevent LYC SP from strongly rising even though they tried very hard.
If we shall not be frightened, if we hold our positions, you will see that MS evaporates and moves to other pastures.
Regards,
tototy.
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Open | High | Low | Value | Volume |
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3 | 24626 | 7.010 |
3 | 12221 | 7.000 |
2 | 26888 | 6.990 |
2 | 16480 | 6.980 |
Price($) | Vol. | No. |
---|---|---|
7.040 | 8902 | 1 |
7.050 | 3341 | 2 |
7.060 | 30085 | 7 |
7.070 | 12221 | 3 |
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