I strongly suspect that the 4m shorts left open at end of yesterday is a reflection of market action for shorting strategy. That is cover your shorts on the dump, that causes a bounce in the daily SP action, then open new shorts after the bounce creates interest from traders/investors, and that then creates a daily top and sends the price down on close.
Shorters hold the technical advantage by a mile at the moment. SYR will be a good case study for those wanting to learn more about strategies used by the pro shorters. Especially those with the inside running and their will always be those in the know that get away with it regardless of the best endeavors of the regulators. After all, it is the stock market!!!
Cheers
Ann: Syrah Announces Resignation of Managing Director-SYR.AX, page-95
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Last
29.0¢ |
Change
-0.020(6.45%) |
Mkt cap ! $300.1M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.5¢ | 28.5¢ | $2.015M | 6.725M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15981 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 117664 | 5 |
View Market Depth
| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| SYR (ASX) Chart |