RE: Initial Rukwa Targets22 Aug 2021 00:59
"it wasn't just shorters trying to get the price down"
@skittish great post, apart from the dark forces part. The price was right at about 28p+ but the new led to an over reaction with shorts opening up leading up to the news. Had it not been the case, the price would have held between 18-23p and risen again into tai-2.
There were posts on here that suggested that tai-2 would take a long time to start. They speculated on the location and the weather. Then the narrative of no news wanted on twitter otherwise their sensibilities would be lost as they preferred to be kept in the dark. Then about the rig wasn't large enough and speculation on the drill bit. I didn't buy the unsubstantiated claims. As soon as the news of tai-2 started, the shareprice came out of channel and the shorts started closing. I certainly don't believe the under valuation by some, and the crocodile narrative of "it will be a hard fall if it goes up too much".
With plenty more news to come, this will be a squeeze with the shorts buying to cover their positions and pi's (looking for both short term and long term results) looking to open longs. The pressure upwards is very strong at the moment and I for one will continue to buy over the next few weeks.
GLA