Shorts are basically people betting against a stock, its a little complicated but its the reverse of purchasing of normal stocks.
When you buy a short, you are selling to create your position (which can force a to go sideways/downwards).
Unlike the craziness of US, ASX limits the total short ratio-to normal SOI for about 5-12% I think.
However, due to 88e having a massive SOI, the amount of shorts available/trade able is significantly increased for a typical penny stock.
The first picture shows a chart of the total shorts held / to total market cap-SOI.
Due to the complexity of shorts, this chart is T-4 delayed (4 trading days behind)
The second is a snippet of a pdf showing total gross trades of short positions. Gross trades do not show whether people are exiting or entering the trade. One way to tell is by looking at a normal chart and if the price has gone sideways/down and compare it with the gross short trades, then that is a possible sign people are shorting.
Please DYOR on shorting as its a extremely dangerous financial tool and should not be lightly.
I posts about shorts on 88e as I have a long position and if other people are sceptic as to the price direction that thses charts may help them
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Shorting on 88E, page-69
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Last
0.2¢ |
Change
-0.001(33.3%) |
Mkt cap ! $57.78M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.2¢ | $5.997K | 2.378M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
222 | 347388030 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 601584897 | 215 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
221 | 337388030 | 0.002 |
301 | 1064777959 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 581584897 | 214 |
0.004 | 252653342 | 104 |
0.005 | 73910046 | 56 |
0.006 | 97776859 | 40 |
0.007 | 37844569 | 26 |
Last trade - 15.51pm 19/07/2024 (20 minute delay) ? |
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88E (ASX) Chart |