Member Info for chilting

L3
That was the day I returned from holiday - so I don't have any timing's on load 45 - suggest you use MO's data.

Well it seems that quite a few shorts have closed their positions in the last three days and taken down the SP in the process.

Maybe we should ask why they are closing now - does the market anticipate some developments - could there be some good news in the pipeline - all speculation but the facts fit at least.

Using some logic here the shorts will probably start to close now - pushing the SP up - they have had their pound of flesh.

Also, we have had high volume today - with the shorts closing and day traders buying for a quick profit - so we could see a good rebound now.

The problem is that currently the market has lost faith in SM because it failed with the bond issue.

This caused the SP to fall below its falling average of 7p.

The market smells blood in these instances and the shorts and day traders - who make money when share prices fall and rise quickly - because of the volatility - have a field day.

In these instances the SP tends to move down - in steps - that is what we are seeing today - but we could see a wild spring up at anytime because of the volatility - it works both ways.

Good news is the only thing that will reverse this situation are restore value.

Drepanos is on her way to Freeport in the Bahamas - the first Kraken load to the Caribbean.

There is a refinery at Freeport and the largest fuel storage facility in the Caribbean - so maybe this is another load for fuelling shipping????

Very poor today - high volatility - care needed with stop losses.

As I said last night - the fall was simply shorts manipulating the market down and then closing out.

I guess what happens now will depend on if others want to close today - especially as its a Friday.

Now that IS a come and buy me RNS !

Now that IS a come and buy me RNS !!

Now that IS a come and buy me RNS !!!

avocet
No way that Gina would buy at the moment - absolutely no clarity re the SP.
She will simply wait on the side lines until a deal is done that will probably be adjusted to her favour, so that she doesn't loose out - as is normal in these cases. Remember she also has the royalty deal.

WD-40
That will depend entirely on how much dilution we get with the funding.

It should be added that there was also a technical reason for todays fall - simply the volatility that exists when a share falls below its average price - in the case of SM that is a falling average of 7p - the SP is unfortunately very vulnerable.

mrJim
Its another of the mysteries of this market that so often comes and kicks us in the teeth - professional traders who make their money by manipulating stock losses and then simply cash out when everyone else has gone home - its perfectly legal.

rrrRRRrrr
Anyone can trade after hours.

https://www.investopedia.com/ask/answers/05/saleafterhours.asp

I was worried that it might be a leak but the after hours buy confirms market manipulation by shorts prior to closing.

Yep, shorts closing - trouble is its another step down - just a play thing for the shorts and traders at the moment - means absolutely nothing in the long term - financial position for SM unchanged.

A joint business with ICL Boulby - cash generating from day 1 - could be very good news for shareholders - we are almost bound to take another big dilution hit anyway so why not make it much more a positive one.

Trolls can be put into three categories - Gnats - Blue Bottles - Hornets.

At the moment we seem to have a very persistent Blue Bottle flying around - would someone open the window please!

Mavrick
As you say its speculation - I can add to the speculation with this -

https://www.maersk.com/news/articles/2019/09/05/maersk-koole-terminals-produce-sulphur-marine-fuel-rotterdam

This is all very interesting and if I could add a bit more that may be interesting.

Loads 44 and 45 were both transferred to the tanker Ridgebury Pride in Scapa Flo - Ridgebury Pride is now unloading in Rotterdam - the first Kraken load into Rotterdam - certainly out of the ordinary - most loads go to the US - pure speculation but maybe Ridgebury's load will be used to power ships????

My confidence still remains that SM will go ahead and get the mine build and that they will do their best for current shareholders but at the end of the day there is no way that this can be guaranteed. In view of this and after much thought I have decided to reduce my holding by 50%.

I have invested the cash in another growth stock that I think has a great opportunity for a substantial capital gain - no means guaranteed as always - but it does spread the risk and hopefully SM or ITX will come through.

This isn't the end of the strategy - my average is now around 33p for SM - but I will average down when I consider the time is right.