pdn vs era, page-20

The percentage of shorts expressed as a percentage of issued capital is VERY misleading.

Yesterday, as you say, 3 million out of 11 million shares traded were shorts. That makes much more sense. That's about 27% of ll yesterday's trades.

Now this is cumulative, and PDN has had similar, or much higher, percentage of shorts for the last several WEEKS.

The issued capital is completely irrelevant - it's the market cap and the current share price which is relevant. And that is being relentlessly pushed down by both shorters and genuine sellers, many of whom get "scared" into selling by the shorters.

All fundamentals seem to have gone out with the bathwater, to mix metaphors, and at some stage, one would expect an almighty short squeeze to occur. The shorters would have profited on the way down, and they would be expecting to profit on the way back up having bought large numbers of shares at a VWAP which is lower than the current one, once the short covering starts.

This whole sell-down is being manipulated by bots, as evidenced by the Course of Sales action. As I type this, there is a lonely buy bot trying to nudge the price up by a half cent, and the SP is immediately knocked straight back down by a few tiny bot orders marked 'S' (Sell initiated) then walked down another tick or two. Relentless. adn frustrating... but of no consequence to those with a long term view who have a very low buying price. The perfect opportunity to accumulate more, in fact.