OTCPK:TOUBF - Post by User
Comment by
unclesam2on Jun 30, 2011 7:32pm
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Post# 18787026
RE: RE: RE: RE: Sovereign FUND BUYING!!!
RE: RE: RE: RE: Sovereign FUND BUYING!!!
- I disagree that this was a Sovereign Fund buying in as a new position, or adding to an existing position.
- I have level 2 and I saw the tape action for the last 30 minutes. Barclays was doing most of the buying from 2.80 and up all the way to the end. The interesting thing was how the Bid size from Barclays became close to 250k - 500k in the last 10 minutes. If not for Barclays, TRE would have closed lower today !!
- My hunch is that Barclays was/is short big time on TRE and today being the end of the month and quarter had to square off/ cover short positions. Maybe, Barclays was anticipating a sell off in TRE after the S&P downgrade and the Muddy Waters bloomberg news today which did not happen, and so got stuck to cover at the end of the day. The last few trades by Barclays smacked of desperate attempts to cover.
- The question now is....did they cover all or is there more pain to go !!..
- Reading through the S&P downgrade report, I do not like what is materializing for Sino in the near - mid term. However, given the near term uncertainty, it still holds great appeal as a daytrade.... and honestly... I made some money again today on this stock....But as always, I refuse to hold overnight positions....no matter how bullish the chart looks..
- Based on the S&P downgrade alone, it will be foolish for any institutional/sovereign fund to touch Sino at this time... There will be no real long term buying till the PWC audit results come out.
- Till then..... it is nothing more than a calculated smart gamble.... aka... daytrade !!
GLTA and be careful !!