It does look like there was a genuine exit of a bit over 2 million short positions. Not a huge amount in context with the 20 million from the ASX200 removal but it does say that some took the recent SP pause to escape. There as also a much smaller daily cohort exiting before that that allowed the recent SP climb.
The ghost dips have generally been larger and I suspect they are from one big shorting house omitting a report.
That said there is still a long way to go for shorts to close out. I have provided some updated charts to illustrate below.
Note the recent rise in the overall cost to cover due to the SP growth. Days to cover has reduced showing the drop in risk but still not insignificant.
The average SP upward trend seems to be intact so far. It will take a lot of self-discipline on both sides to navigate the next few weeks in my opinion.
Given recent director buying and the stalwart nature of long term holders, the risk is leaning to the upside.
If the squeeze continues, it will dwarf the last one...
GLTAH
Short Activity in PNV, page-4186
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Last
$2.34 |
Change
-0.030(1.27%) |
Mkt cap ! $1.616B | |||
| Open | High | Low | Value | Volume |
| $2.41 | $2.43 | $2.32 | $5.953M | 2.536M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29039 | $2.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.35 | 16702 | 3 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |