Tetete, you are shorting SIR using IBrokers...many traders look like they are top picking with you.
Every time SIR gets to that 3.00-3.20 range (3.10 av), it gets beaten sharply back down by 20c to 30c in 1 day, so i thought like you it must hold 3.00 to keep its run going but did not think it would, so maybe shorting is for me.
NP rise last nt and again tnt up 2% both nts so SIR SHOULD go up right?....i dont know....but i do know it is NOT a producer but as the West newspaper called it recently a NI developer/explorer. It will be a producer in 2016/2017 im told.
With NP rise i would rather bet on low debt strong high margin NI producers like MCR WSA PAN as they will benefit the most in real cashflow from this.
OR you can try the lower grade, unrespected, criticised trading stocks of MBN DKM or POS..MBN on a tear last 2 days but may spike or collapse who knows, POS about to start production in next few weeks. DKM spiked 14c to 45c in 2 days back down to 18c again.
As for SIR....shorting works if you can pick the interim top...look for the herd banker darling friends of SIR when they move short on SIR...you will see low vol buying, selling offers pile up on screen, large volume sells from nowhere, 5c moves down from nowhere, bids dry up on screen, NP drops are always more likely to cause a short in SIR and then the graph also which shows you a flattening out/upward resistance.
SIR just cannot clear 3.10 its quintuple interim top.. very worrying for the LTH in SIR, i would not be long in SIR right now, wait for the bottom. $2.20 is the low target for shorters and shows strong support right now down there.
SIR needs early cheap infrastructure and production from instant tolling. Large Debt and Large CR cash will burn up fast. Calling Dennis.
SIR Price at posting:
$2.93 Sentiment: None Disclosure: Not Held
