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33.0¢ mma offshore limited

Chart has short term potential, page-352

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ckchristian

1,759 Posts.

204

01/06/16

11:18

Post #: 17921412
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Originally posted by downsyde ↑

Only thing i'd point out is that it does often happen that a sharp spike in shorts is followed by a price rise. One can look back at the previous couple of times the short activity has spiked and see what the price action did. The shorts appear to be losing the battle here again, price is well off the 40.5c low and short selling appears to have been relentless. Perhaps some insto support? black crane? or another? would love to see Argo pick up more. If the pattern continues this will move higher. Else current action might actually imply a period of consolidation this, as susanmb has pointed out many times, could take a while. I was thinking of jumping back on board for a spell.

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Noticing the shorts activity before the 50 to 20c trading update there were big days of covering so they got that wrong.

But as AHS is saying big short positions last few weeks so all we know is it'll be an interesting few months...

MRM Price at posting: 43.0¢ Sentiment: Buy Disclosure: Held
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