SSI : The games some brokers play.
April 24, 2011 1 Comment
Thursday’s sell-off was quite heavy, but what amused us was the screaming BUY call by a large local broker on Wednesday. We ourselves gave a buy call when the stock was trading at 1.2 or so, but this broker told people to buy on the day of its biggest sell-off since late January. Coincidence? We doubt it. More like the usual fun and games whereby retailers get shafted by dodgy broker calls, as has been the case since the beginning of time. Shame on them we say.
As far as the stock goes, we fancy a punt from 1.38 or so, and are looking for a solid daily close back above 1.42 to give weight to a new rally, which this time should see the counter hit 1.56-1.58