RE:RE:That was some Crazy Share Price action yesterday.From what I've been able to research, this idea of putting a sale on your stock to prevent short borrowing is basically a myth. It is only technically but not practically possible. You need to hold a stock certificate to accomplish it. Otherwise, your broker holds and manages your stocks and reserves the right to loan them (I'd be surprised if you are with a brokerage that doesn't have that as boilerplate in your contract). The loan desk at the brokerage essentially watches the "float" to approve short sales a broker at the firm submits. And even if there is not enough available they may borrow them from other firms. Your sale offer is immatierial.
On the other hand, AI is telling me it works! In any case, the volume created by a few people doing this would have no effect, other than to make you feel good!
JoeBravo1 wrote: Yest it is tempting, especially when you see the share price approaching OverBought on the RSI indicator, but...
RSI can be misleading with an undervalued company like Parex which is on the verge of a potential new exploration gas discovery which can catapult the share price to new highs.
When RSI is near or at OverBought levels it can also mean that it's trending higher, which I believe PXT is. I haven't sold a single share, and I have quite a bit, at least in my standards.
All my shares are up for sale in the $24 level and higher in order to make them unable to be borrowed by short sellers.
I wouldn't want to be caught without shares when Parex announces a significant discovery at Arantes. Should hear something in the coming weeks, or at any time for that matter.