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It SHOULD BE SHORTIEST SHORTED like MAD!!
Shortists scrambling to cover like mad
very funny !!! Even that day shortists or fake selldown from 45.5 to 44c ..
Now is 45.5 buy .. if shortists don't cover by now .. they are screwed
Last week share price up from 44 cents to 45.5 cents.
Then it took only two days (03/06/14 and 04/06/14) for short sellers to short it down to 43.5 cents. See the short sell volumes:
03/06/14 : 5,171,000 lots
04/06/14 : 4,300,000 lots
If next few days, share price up a little bit, it will be another good chance for short sellers to sell it down again.
Despite the massive RMB3b+ contract wins recently, the market is still very cautious. Anyway, most of the delivery dates for those contracts are for 2015 to 2017 so the impact on 2014 results will be small.
Most importantly, until the PE can come down from it's current astronomical 43x, it's very difficult to justify a strong and sustained lift in the price.
Midas is a good company by all account, but the high borrowings and trade receivables are a worry. The only chance that the share price can rise sharply this year is perhaps a M&A. Otherwise, investors may have to wait till the PE can come down to a more acceptable level before the price can confidently climb higher. I could be very wrong, but it's hard to see that happening this year.
That said, I do believe that the stock price can eventually hit analysts' targets if Midas can execute its ambitious plans well, but it could be a long and bumpy ride.
|Geo Energy Res||0.385||0.005|
|Southern Alliance Mining||0.660||-|
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