yesterdays short sellers to burn today

  1. 365 Posts.
    NCP traded around the open yesterday at a 10c premium to its US close at 10.33.

    The stock was around even most of the morning until the US futures started to tank and was sold off in large lines from around 1100am all the way to the close with NCP closing down 31 for the day and a discount to the US of 20c.

    This was on the expectation of a 100 point plus fall in the US and many traders appear to have taken short positions in overnight.

    The stock is now closing in the US around 24.90 US which equates to the aussie over $10.50.

    The opening spike will be strong ,but the momentum of the day is what us traders can win or lose money from .

    We may see those short and wrong needing to cover and the sellers hard to find,giving the stock a big intrday run.

    Would appreciate others opinions on this understanding that nearly every post ive read in this forum over the last few weeks on NCP has suggested its a dog and a good short.

    This is just my opinion do your own thing,and speak to your own broker.

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