Yes I think it's a positive for SXY. I do think that the federal government has been treading a very fine line, trying to develop sensible energy policy without getting derailed by the greens, so it is necessary IMHO to read between the lines a bit - and what I read is that they are a lot more friendly towrds fossil fuels than the words say. I hope I'm right, and I hope they go further and can one day not too far away feel able to say what they really think.
Re the thread title: don't bank on a short squeeze. Shorters have become so expert at manipulating share prices that they now very very rarely get caught in a short squeeze. I have seen any number of massive short positions unwound with barely a blip in the share price. One of the unfair advantages that they have is that there is a 4-day delay in reporting of short positions, which gives them lots of time to act without being observed. Another is that the rules clearly state that transactions must not be aimed at manipulating share price yet bots operate all the time with impunity.
I think I do understand some things, but not the SXY share price!
SXY Price at posting:
20.8¢ Sentiment: Buy Disclosure: Held
