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Downb...check out “inverted hammer chart pattern” on YouTube. We have a beauty formed on the 3 hour chart. It’s a sign of possible trend reversal. Could be a big move up tomorrow. The spike today was caused by that rns, sudden buying created the spike fueled by the shorts stops that where toasted on the way up. Shame it didn’t hold..let’s see what tomorrow brings :))
look at 3hr chart, big long spike at top of candle, and finished at bottom of the candle, the 3hr candle range is very big 7.2-7.9. (10% of price)..thats a lot of distance covered in 3 hours, likely to see inside bars now I would expect , technical analysis doesnt take into the reasons why this happened, you know this of course
Giving, can you explain the 3hr reverse hammer candle? the RNS in the afternoon that caused a mini spike was not all that it seemed as it was an II just transferring ownership. still it was very disappointing to see the SP fully reverse its gains.
hopefully a bounce in the morning! a few may have got stopped out today.
I thought exactly the same thing. I suspected he sold yesterday.
Colonel gives very informed posts on here and has a respectable reputation, and usually neutral on price which I like, however , last post had a whiff of de-ramp about it, lets look at facts:-
1. 1 fund GSA has increased short by a whopping 0.1%, there are NOT a band of shorters joining them
2. The idea that the price will be grounded down by these yet unknown forces upto Jan update is conjecture and fearmongering
3. We have a £10-£20m diamond sale coming up in just 3 weeks, and diamond index suggests diamond prices are reversing, as the colonel was keen to tell us on many occasions upto Monday, and we got a 3hr reverse hammer candle on the board, nice setup for tomorrow.
I can only conclude like many on here Colonel sold his stash, and is out in space, now he is concerned about re-entry
Totally agree Dusty, look at PMO over 5% short, hasn't stopped going up 20 percent in last week or so
Don’t worry too much about this low % of shorts, 2% is nothing compared to some other companies like metro bank that are around 10% declared shorts. Shorts can be quite useful for a rebound anyway, they provide more upward thrust as there being toasted....lol..no problem :))
Gs increased by 0.01 so they had to declare there holding being 0.5. They must have had 0.49 before. Anything under 0.5 doesn’t need declaring. So we don’t know who is shorting under 0.5 basically.
short tracker is showing an 0.5% increase in shorts on 17th October (1.56 to 2.06%). GS increased by 0.01% so who increased by 0.49%??
Where did you get that info Colonel?, I saw the short increase on 17th on shorttracker, whilst Winton & Mace reduced
Just been reading SteveE posts, and he doesn't appear to me any wiser than other posters on here, in fact I like Liamcossie cos the guy can read a chart, sometime all the fundamentals can be absolute garbage and that is often the best time to buy, the PDL chart speaks volumes to me, Nov/Dec will be great for us
SteveE has only 79 posts so you are 151 times better than him DBNO
Don't worry , my Chinese instructor never mentioned SteveE, maybe SteveE is **** at buying and selling shares and you arent?
bugger. i wish SteveE had posted on here before he sold. muggings here been adding the last few days. it'll come good in the end. i thought 8p was coming today.
oh well, looks like M & G lapped those up , I was always taught to sell on a green candle by my Chinese instructor , it was drummed into me as a small child Yangtze province
Giving...it’s in the chat a few pages back, he had a big holding here, a few people on here know also. He didn’t sell everything so he said.
Where did you find this info Dusterman?
SteveE60 sold 2 thirds of his holding just before the rns I think. My guess is he sold over 1m shares.?. That’s probably why the price dropped back down filling his order. We should move back up from here now
looks like the PRU dinosaurs have been out played by M&G on this one
Interesting because PRU are very much geared towards Asia and tapping into the new middle class over there and selling them retirement products etc....and ASIA and Hong Kong wealth is probably going to be where the diamond buyers come from ...given the vast increase in millionaires in China etc
Maybe M & G can sell them back to Pru for 40p?
Pru passing their loss onto M&G. You can bet this is a pretty hefty paper loss for them at the point of transfer.
I think many people did - I missed it myself initially as skipped straight to the changes to holdings part!
Thanks, missed this.
Shows how edgy this is. SP can swing massively on what is effectively no new news.
We do know that for sure - it states it in Section 2 of the M&G disclosure notice! Easy to miss as usually nothing much of significance in that section in most cases!