zinifex...one for the lazy bull, page-22

re: zinifex...for mjb - short sell info MJB,

Sure can - I am just an ordinary retail investor.

So go this link and it gives all the short positions on all stocks within the ASX that are able to be shorted. Note all stocks can be shorted it should be noted.

http://www.asx.com.au/data/shortsell.txt

Note it is always one day behind the market...ie if you lookup todays data it is only up to 5 Jan 06 that is due (I believe) to the way shorts have to be reported and covered by all brokers. But at least it gives you details you are after.

Have a look at MGW chart and then look at the figures of shorts you will then understand why this stock is under so much pressure to the downside. It has the highest percentage of shorts in all the stocks on the ASX. (as a percentage of stock short allowed)

ZFX is also pretty high and has changed rapidly in the last 10 days as it makes new highs and investors think that see on opportunity on the downside, thus the stock now has a lot of short positions.

I, on the other hand think that ZFX is going to resume its upward travel as long as Zinc prices hold up and continue to rise and in particular LME Zinc stocks continue to decline. If that is the case then those short will "get their nuts squeezed" and need to cover thus pushing prices up. If Zinc gets to US$2000/lb this will be an all time record beating the record set some 17 years ago. This could start a rush like gold has seen in the last few days.

ZFX thus could get to $8.00 (and this is my next target). I have traded it from $4.50 4 times until now when I closed my last position on Wednesday at $7.07 (that trade from $6.02)

I will back into ZFX in the next few days with doubt and then looking for $8.00 or hopefully more. Only time will tell on that.

Cheers and good luck with the Short Sell data.
John