RE: SO Still selling24 Mar 2022 11:56
As expected S.O is as good as out. For those wondering why he is selling do a bit of research into why he has been selling. He has been price insensitive the whole way down - in fact he has ultimately opened the door for a free short by those who were in a position to take advantage of the short or those who are simply that way inclined.
For me the pressure was a great but tough way to average down. It was hard watching the drip of the share price as S.O offloaded, but now that we are effectively at the end of the process, I am expecting not only the shorts to square off but also those on the sideline's waiting for the end of the S.O. liquidation to start picking up positions again.
The blow out up to 75p yesterday was the first of many. The retrace back to today's price is a combination of S.O finishing up and profit takers banking some profits.
An opportunity to position for the move back to a pound for those who missed the initial move