9year low..., page-37

I have extracted daily short positions data from ASIC, and put into the following chart,

The short positions were 6.4m shares before negative news from advisory panel 30 January 2013 (sp: $1.25), then doubled to 13m shares on FDA rejection on 19 March (sp: 52.5c).

On 31 Jan, 19m traded, high 79c, low 61c,
1 Feb, 5m traded, high 75c, low 68.5c,

Most of short positions (around 5.5m) were built during 31 Jan to 22 Feb where PXS traded between 55.5c to 79c.

On 19 Mar, FDA rejected NDA for Bronchitol, sp was irrationally pushed to 52.5c (manipulated to increase short positions, IMO), then closed down to 46c.

Then following seven trading days consecutively hit new lows till 28 Mar, volume increased on 27 Mar & 28 Mar. Most likely is, instos to close short positions as current sp level close to cash backing.

Another interest trading activity is on 28 Mar, someone put 400,000 share sell order on 32c, then nervous traders sold down to 31c, record low in ten years. Few seconds 400,000 sell order was pulled out.

The company become WORTHLESS, was having E/V of $321m on 30 Jan 2013, now its E/V is $7m.

The world seems doomed for PXS, which was happened for SWM, FXJ, sp continued to push down, but eventually, SWM more than doubled from $1.09, FXJ recovered from 35c to 63c. PXS at least looks to bounce to 46.5c in the short term, so instos to make another 50% at the cost of retail investors (lots of retails must be cut losses and stopped out)