I reckon all the 'experts' who have been shorting Metcash [MTS] since April this year have made one of the worst calls. Touched bottom just below $1 in late September. Over 20% [! let that sink in for a minute 20%!] of stock shorted continuously since then, but against all that short pressure, plucky Metcash continues to rise like a souffle. Up more than 50% in the last quarter. Last trade $1.60.
Almost every MTS short trade made since April 1st and not closed out is now underwater.
How are the shorts going to escape? Huge losses coming up. And of course as the bail out gathers momentum, and the shorts finally pull the ripcords, it is really going to just make it worse and worse for those still in there short and hoping for a miracle.
http://www.shortman.com.au/stock?q=MTS
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- Worst Call of 2015
Worst Call of 2015, page-79
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