Shorts close positions after a stock moves higher - not at the bottom.
The bottom fishers (knife catchers) are usually the first. If a bit of "big money" comes in then and pushes the stock higher, shorts must start to cover.
They're not usually the ones to finish a down trend.
But - you're right about the current position as likely to be a good spot for a short covering rally to start.
Here's the monthly chart for AGO.
All time low for AGO was back in July, 2005. It was then at 0.17 cents. Today it is close - got to 0.2.
Yesterday I mentioned that I thought the IOs might see some speculative buyers coming into the market. Looks like they timed it right. Maybe.
Redbacka
- Forums
- ASX - By Stock
- XJO and World Markets - Discussion and Charts
Shorts close positions after a stock moves higher - not at the...
- There are more pages in this discussion • 55 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
7,896.9 |
Change
77.300(0.99%) |
Mkt cap ! n/a |
Open | High | Low |
7,819.6 | 7,901.2 | 7,819.6 |
Featured News
XJO (ASX) Chart |
The Watchlist
BGD
BARTON GOLD HOLDINGS LIMITED
Alex Scanlon, Managing Director & CEO
Alex Scanlon
Managing Director & CEO
SPONSORED BY The Market Online