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But it’s iis and shorts closing who move the shares not the repeat trader who keeps saying 190 sub 200 just because that is their target buy price. It was held today note the trades today 5 x 50,000 shares 3 x 25,000 4 x 20,000 and so on with 90% of them all coming in the afternoon after that brexit update and when everything (mostly) went blue.
I think what’s making people cautious and second guess themselves is that metro doesn’t behave how you would expect it to. Big overreactions to bad news and next to nothing on good news and even when you do see a bump due to good news it’s lost again the next day! It seems almost impossible to get any kind of momentum going at the moment .... but I think q3 will change this!
I think understandably with 10% shorting people are being a bit over cautious and have probably reduced their holdings more than they would normally do.
I'm also sticking because i'm going to a place where the signal's s hit.
Agreed ggg21 !
Little bit of reality check. Why would results be bad? Have a look at the prospectus and the rns about the credit update showing the ratios....they are good. Mrel got away well over subscribed - why would you take that and put yourself in the fire without doing the background check.
Generally when shares have large shorts open the lead up to any results sees a reduction and a steady rise up as on day results they don’t like to gamble in being caught out by a bonus statement/update. Asset sale....new board member
Currently the board can’t buy but iis definitely still can and the board can definitely buy on the day of results.
Oh and brexit deal looks to be getting done....
It’s possible (we was at 157 the other week) but I think q3 will be good I also think that a LOT of insider buying will take place as soon as they are able I’m a little surprised we didn’t see a bounce towards end of trading today but the one thing with metro is it’s been consistently unpredictable! Each week seems to start like this building up towards end of week when we get a surge followed by a Monday drop. I’ve got limit sell orders in place for most of my position
That's a good average Mark. Mine is 300p. If results bad this could crash to 150 or less. Thoughts?
Barring an unexpected rise yes I am! I really do think q3 will be good, most of the bad news won’t have affected q3 ( it will however impact q4 ) yes I know it’s risky but after much extra buying over last couple of weeks I’m at 221p average so it’s calculated risk
Mark are you holding all of your position through results? Very risky. Could go one way or the other!
Mrcarrick - with the brexit rumblings and q3 next week there (in my opinion) isn’t much point doing anything at the moment best to sit the next week out then look to unwind your position if your over exposed ( I know I am )
Yes Provident Financial. Done OK today on it and got my average down such that I am in profit now.
This share is just doing my head in now. I've still got a decent amount here but it is clear I am overexposed so am trying to rectify that.
My average here is 237p at the moment however I'll get it lower if we go sub 200p.
Even on Q3 good news I wonder how far this will go up. Still holding this but not enjoying it anymore.
Mrcarrick - Are you talking about Provident Financial plc
Seems a sensible thing to do. Closed period so nobody connected with the company can buy. The shorts know that too. They're like a cancer aren't they? Utterly ridiculous that we end up down today when all other banks rose strongly. I've also noticed that even when the FTSE is flying this still goes south. Worst share I've ever owned.
I sold some MTRO today to buy some of Woodfords PFG shares this morning which I will then sell again with the idea being to buy back some MTRO sub 200p.
Anyone else believe this is going sub 200p? With shorts not really closing and no spike on a potential Brexit deal I am of the opinion the shorts have it right and that I should buy again once the SP gets smashed one more time.
Anyone else doing similar?