Short Activity in PNV, page-20

Update on Shorts graph with days-to-cover comparison.
Features of interest.
1) the reduction in shorts seemed to start properly when the days to cover got above 5 days(calculated on 30-day average volumes).
2) the flattening of the short level when days to cover gets below 5 days
3) the short squeeze on the good news of 22nd Jan
4) the leveling of shorts straight after the spike
5) the SP increase with no real short nett change last week.

Conjecture follows:
I think there was some exuberant buying after the lift. I suspect there may be some profit taking, and if they are keen, some more shorting at the higher price range in the next week or two that might lead to a slight dip. Of course the results are likely to drop in a couple of weeks as well so it depends on sentiment around the outcome of that. The shorts may be looking for the profit taking prior to getting their fingers burnt again however.

I will try and update of the graphs again just prior to see how that pans out. Hold for now IMHO.



GLTA and DYOR