Time for a healthy pullback, page-2

Yeah, that gap at $1.2 has always been at the back of my mind as well. Although many of us might have preferred (& expected) the sp will close this gap after its original run above $1.40 but as we all know that never happened.

Sure, in the absence of any news in the next few months we might get to close the gap, but now that Nearmap is all cashed up and plotting to enter into Canada & Europe I believe things will not be quiet for long.

People waiting to enter at $1.2 is effectively gambling on the fact that no good news will occur between now & however long it takes for the sp to get down there.

Don’t forget the $1.6 CR was over subscribed & completed in just 1 day, so I believe when the sp ventures around $1.6, many more buyers will come out and support the share price on a massive scale.

I also still believe the current pull back is a result of the shorters trying to trigger a slump in the sp as roughly 3 million shares were traded near $1.74 last Friday so these shorters are now trying to buy back what they have sold cheaper. The current low volume however does not support the fact that these shorters are succeeding yet in triggering this sp slump. And depending on how deep their pockets (or margins) are, these shorters might even consider shorting a little bit more stock in the hope to trigger this sp landslide. In any case, I see a few buying opportunities ahead but probably not at $1.2 levels.