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Im taking a the view pokerchips that they will try and rinse and repeat a couple of times in the same range as yesterday, but it is a very dangerous position to take with the price already being so low. Good chance the shorts will get burnt at some point on this one
pokerchips; odey couldn't afford to short LLoyds!
Sorry Loc to keep talking about shorts but its pretty clear this price is being heavily manipulated to a lower than the real value. Every time it gets to 360 they punch it. End of the day though its costing them money to do it and it could go either way. they could be retaining an entry point before a large rise to a sensible price or trying to get it close to 300 before they close on mass. Either way as far im concerned 500 is the base entry point going on the placing valuation and nothing ive heard over the last few weeks has changed that
yeah I'm not convinced there is a big move going on here. Shorts rely on uncertainty so pulling this after a trading update and a board shuffle when they know there wont be anymore immediate updates gives them a window to play with. Time limited though and possibility of getting burnt
bennyson; if metrobank sell the loan book the shares will rocket and its been speculated this could be announced by Wednesday, which begs the question whether the shorts will close some of their positions over the next three days?
The thing about this share at the moment is it is so unloved by the traders, making it a short sellers dream. they can run the show without much opposition and none of the major funds will touch this until we get close to end of year results and improved performance. I personally think the long term potential is great but the major players will use their money elsewhere to make money in between. all my opinion
yes 32p was the last time but I belie the same people shorting the share are trading it and reinvesting the profits. to put it into context a couple of weeks ago I made 15% profit over two rounds of trading between 50-54p. It then appeared there was consistent support at 49p until they pulled the rug and we are were we are now. I believe they have the funds to drive this down to 29-30p, short term of course. all my opinion