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Who buys big when a company is in trouble?

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aom

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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
 
Re: Who buys big when company in trouble?

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
 
Re: Who buys big when company in trouble?

People who dont do their homework and attempt to pick bottoms.

Consequently getting themselves in the ****zer.
 
Re: Who buys big when company in trouble?

beamstas said:
No idea mate
Im drawing blanks too
Take a look at the price action
Click to expand...

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.
 
Re: Who buys big when company in trouble?

ojm said:
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.
Click to expand...

Amibroker

Cheers
Brad
 
Re: Who buys big when company in trouble?

ShareGuy said:
Short covering?
Click to expand...

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
 
Re: Who buys big when company in trouble?

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.
 
Re: Who buys big when company in trouble?

IGmarkets offer CFD's over the stock and I'm pretty sure they take positions in the underlying stock to cover themselves.
 
Re: Who buys big when company in trouble?

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 ????
 

Day traders.
 
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?
 
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