That's total reported open short positions. If you go to the ASX Shortsell text file you'll see that 4.3M on the daily came from short positions on the 2nd.
30% of sales were from shorters with an active goal of tanking the SP, if someone was trying to buy/accumulate for value in this volume the trading strategy would be completely different which is why it's so destructive.
We can talk about a company being identified as overvalued etc but you cant apply this rule to FMG at its market cap, NPAT and Divi returns and then not be totally perplexed a certain taco shop continues to rise.
There is a very concentrated attack on ASX Miners broadly speaking and I think a retail holder has every right to be frustrated by it because they have no option but to HOLD through the storm or SELL which exacerbates the situation further.
FMG Technical Analysis, page-11527
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Last
$18.26 |
Change
-1.290(6.60%) |
Mkt cap ! $56.62B | |||
| Open | High | Low | Value | Volume |
| $18.76 | $18.85 | $18.19 | $181.3M | 9.785M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 7603 | $18.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.27 | 5889 | 21 |
View Market Depth
| Last trade - 15.28pm 11/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |