RE: RNS24 Mar 2022 13:33
Taken from GGP board,
'CostaMooney
Today 12:29
Posts: 759
Price: 13.90
Strong Buy
Mentioned previously on this BB and privately on TG that this area 13.8 area seems to be the line that is being attacked and defended for the last 10 days or so. It was also previously, about a month ago. A short trip below then and it soon bounced.
Like a few have said, short is having to work overtime...and not for double time (remember those days, lol, when workers had rights? I digress.) nor time and a half. During those days we have not closed below 14p, so the 13.8-14 are the wicks one will see on the D chart. Another little nibble this morning, just some small profits from elsewhere, but it all adds up and i look at them as 'free shares'.
Whats still very interesting is right now is other sellers... Or the distinct LACK OF.
For the short to work they need more sell volume from other sellers than their short volume. Whilst that was happening and in their control for months (starting last may/june) it started slow down 6 months in with less sellers the further the drop. To the point now, where sellers are really not there. Check yourselves... you can do so using LSE trade data or even here on the trades link, of if you have L2. You can also see on the VAP indicators on any decent charting tool. So, if they do drop a shomb at 14p, they want you selling more at the same time whilst that shomb is being bought. The MM will want to sell the shomb at more than 14p, so the key to this should be obvious to all and sundry. What we want to happen is a continuation of recent 10 weeks or so. I actually think they know this. I actually have another theory too, but another time! Even if the they drop more shombs, if those volumes are higher than any additional selling it WILL NOT WORK for the short. The MMs are not going to sell the short shomb bomb back to the short for less than the MM bought them (of the short) for. So, think... he has to buy them back. The more they drop, the more they will need to buy back and imagine that happening at a higher price than their shombs... Still no sellers only short. Basically he would be shafting himself. The more buys back the the higher the price, their stops may get taken out pushing the price higher still. Shombs will like thowing stones against tank! Only one winner!
Some of you believe that this short has no impact on day to day, week to week in this current trend. It's a matter of perspective right, if you are short term then it does. If you are LT it may, but only on a psychological level. I wont lie, it used to with me, but these it has no -ve effect only opportunity. The point is our short is NOT having the same impact it once had. There are many that do not like, entertain or agree with the 'dark arts' of TA. I can understand but not agree. The TA shows what i am talking about. The volume does aswell, and its that volume story which is telling.
GL'
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