SNSN schreef op 11 december 2013 17:16:
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By the way, CS didn’t short in 2012. He actually did not need to sell at all, as was offering 8 when prices were at the “historical” low level ~6.3 (i.e. ~2.80 in terms of new shares). Actually CS could wait a bit more, and buy even lower (under ~6), as a game around kpn (and systemic trend down) started much much earlier...
An "artificial problem" for kpn was "imposed" in 2012 by a couple of former “main shareholders” (~25% together) which were leaving kpn after CS succeeded. So far, they created almost risk-free trading strategy - “short kpn” - which was supported by many small/mid-size shorters pushing prices even lower. As a result, many “long-sitting retailers” had to sell to reduce their (unbearable) “paper losses”..... some of them with objectives to repurchase lower.... (which many did again and again - taking & multiplying their losses step by step). Of course, that artificial downward trend was partially supported by not too good kpn results, but the fall in share prices was absolutely un-proportional to the drop in performance.
At crucial time (~17.00) we "made a choice" - dropped to the upper border of our old descending channel which is currently at ~S2. In addition to S2 we have still short-term support at ~2.28