TIM is in dire straits. I dumped all my shares at .06 (though I plan to buy a gamble amount back if the price hits .01 or .02) Why though and who are they that are buying $12,000 worth at .044 and $16,900 at .049? Why is anyone buying at this time? Are there plenty of people out there willing to take a gamble, or is there some strategy being employed? Over $500,000 was traded today who is risking the buying and why? I'm looking at the Commsec Course of sales data today for TIM
beamstas
22nd-April-2009, 05:58 PM
No idea mate
Im drawing blanks too
Take a look at the price action
Obviously somebody out there thinks that the company is worth something. Insider trading? Somebody who is trying to pick the bottom of the market?
Brad
tech/a
22nd-April-2009, 06:07 PM
People who dont do their homework and attempt to pick bottoms.
Consequently getting themselves in the ****zer.
ojm
22nd-April-2009, 06:57 PM
No idea mate
Im drawing blanks too
Take a look at the price action
It has been smashed lately, and it looks like people are trying to pick the bottom. Best of luck to them.
On a side note, what charting software are you using? Looks nice and clean.
beamstas
22nd-April-2009, 07:26 PM
It has been smashed lately, and it looks like people are trying to pick the bottom. Best of luck to them.
On a side note, what charting software are you using? Looks nice and clean.
Amibroker
Cheers
Brad
ShareGuy
22nd-April-2009, 08:05 PM
Short covering?
beamstas
22nd-April-2009, 08:18 PM
Short covering?
Possibility
But in reality im not sure many brokers would be offering TIM on their list of shortable stocks
Go Markets don't
I'd say with reasonable confidence IB wouldn't allow it
Not sure if there would be many brokers around who do
Cheers
Brad
drsmith
22nd-April-2009, 08:38 PM
TIM is in dire straits. I dumped all my shares at .06 (though I plan to buy a gamble amount back if the price hits .01 or .02) Why though and who are they that are buying $12,000 worth at .044 and $16,900 at .049? Why is anyone buying at this time? Are there plenty of people out there willing to take a gamble, or is there some strategy being employed? Over $500,000 was traded today who is risking the buying and why? I'm looking at the Commsec Course of sales data today for TIM
It's the same reason as to why people buy lotto tickets when the odds of winning first division are about one in 64 squillion.
TIM has about as much chance of surviving as the Fremantle Dockers winning the 2009 AFL premiership and that's being optimistic.
ShareGuy
22nd-April-2009, 08:40 PM
IGmarkets offer CFD's over the stock and I'm pretty sure they take positions in the underlying stock to cover themselves.
So_Cynical
22nd-April-2009, 09:26 PM
For every buyer there's a seller...just one of the many bizarre reality's of
the market...how many times over the last 6 months have i wondered.
Who the hell is buying XYZ at ????
beamstas
24th-April-2009, 10:27 AM
under voluntary administration
kam75
24th-April-2009, 02:02 PM
TIM is in dire straits. I dumped all my shares at .06 (though I plan to buy a gamble amount back if the price hits .01 or .02) Why though and who are they that are buying $12,000 worth at .044 and $16,900 at .049? Why is anyone buying at this time? Are there plenty of people out there willing to take a gamble, or is there some strategy being employed? Over $500,000 was traded today who is risking the buying and why? I'm looking at the Commsec Course of sales data today for TIM
Day traders.
nikemi
24th-April-2009, 02:53 PM
Sorry if i am a bit off topic but, does any of you know what are the consequences for the shortseller when short on a stock that goes into liquidation? Do you still have to buy back to cover the short and how if company is already suspended? Any ideas on the process?
