We have a massively up day on Wall Street so ASX should be positive. Yesterday was the day where WBC hit the lowest point for 1 month. We will see if today is the day that the shorts will stay clear of WBC and I am waiting for the short interest for yesterday to come out. I cannot find the PUT/CALL ratio for Westpac. If anyone out there has it then please share. We all suspect manipulation but we need facts and the persistently high daily short interests give one clear indication of manipulation. We need more indicators.
I can see merit in the speculation that some people enjoy having very low share prices now so they can buy their replacement shares cheap and the price will rise substantially in the 5 days before 17 Dec to improve the buyback situation. So, these players will win both on buyback participation and on the shares they buy at low prices. After all, it only takes a few simple things for the share price to improve a lot from this level. One is that the shorts bailout. The other is for the funds to load up some more WBC shares concertedly within a few days. I doubt the retail investors have any real firepower (or willingness) to buy WBC at the moment to significantly drive the share price up.
WBC Price at posting:
$20.46 Sentiment: None Disclosure: Held
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