Sino Agro Food Inc (fka SIAF)

[Traderfan]

TF can you share your thoughts about yesterday’s L2 action?
Was it retail, profit takers, people with already full positions who added the lows and sold again or did some financing shares come available in this range + shorting?

Good question. I'm not totally sure. As I said yday in the morning, this area now is big resistance as anyone can see on the daily chart for the last 7-8 months. We got rejected plenty of times here in 2012. We also had a pretty good run so profit taking is to be expected. One thing is important though. When people here talk about "shorts" all should be aware that MM's short a lot from time to time in order to make a market. I personally am not a fan at all on that short percentage link someone posted, it says nothing in terms of if there are real shorts out there and how many. Everything is included in that number, MM's as well as I understand it.

What is interesting is that in the mid 60's suddenly BMAK and ARCA reappeared and especially ARCA had plenty for sale as we can see on the overall volume yday which was huge. They haven't been here during the last few days. Are these financing shares or is this just somebody who doesn't want to let us go? I have no idea. Can't be too many financing shares be left right. INTL reappeared together with them and INTL is now back in controlling the market on either side.

All in all we have been on the verge to getting overbought in the short term, the whole candle yday is outside the BB's. We can be glad to have HB and all his guys so we held up nicely but overall I'm happy if we can keep above 55-56 cents on a closing basis. That would certainly be important just from a technical standpoint IMO.

And then I guess the letter will decide where we go in the short term.