Salmon and trout producer TGR is carrying a massive 12.4% short position with the market very concerned that Chinese duties on Australian seafood could hammer the Tasmanian producer. The combination of insider buying in December and a 5% part franked yield are the main reasons we wouldn’t be short this stock and in fact we would be more inclined to accumulate into current weakness as opposed to short.
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Friday 6th June – Dow off -108pts, SPI down -13pts
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