shorters will get burnt and pdn will become less and less...

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matty999

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04/08/14

16:37

Post #: 13766595
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Originally posted by MrQ ↑

Interesting article from Fairfax. Note PDN shiorts reduced by 10c, but still the most shorted of all.

12:34pm: CBA analyst Nizar Torlakovic notes aggregate shorts position increased “significantly” to 1.24 per cent of the S&P/ASX 200 market capitalisation between July 18 and July 25. In terms of actual dollar value of shorts, this represents an increase of $1.4 billion. “The weekly increase is one of the larger increases we’ve seen and it appears short sellers are positioning for more negative surprises in the coming reporting season,” Torlakovic writes in a research note to clients on Friday. “Two-thirds of the companies in the S&P/ASX 200 experienced additional shorting over the week.” The largest increase in shares sold short were Flight Centre, Papillon Resources, Skilled Group, Kingsgate Consolidated, Kathmandu, Arrium and Fortescue Metals Group. The most covered stocks were Wotif, Southern Cross Media Group and AGL Energy. Fortescue had the largest dollar value increase in short position ($193 million additional shorts). Since May 22, Fortescue’s short position increased by 75 per cent and is currently at 8.1 per cent of issued shares. Fortescue is now in the top 20 shorted stocks by percentage of shares short sold. “Short sellers seem to be positioned for weak results from Resmed and Flexigroup,” Torlakovic says

Read more: http://www.smh.com.au/business/mark...hill-faster-20140801-3cxvk.html#ixzz396b4gTec

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shorters will get burnt and pdn will become less and less shorted.. imo pdn is still on medium term upward trend its pulled back for a breather as long as it stays above 35 cent mark its still very bullish.. i thought it would of got smacked down more but its held up nicely and todays close verifies that theres still plenty of buying looking to enter pdn... lets see how hard it runs for the next leg up... cheers

PDN Price at posting: 36.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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