Short position at 21/08/15 increased again to 129 million shares. This is starting to get very interesting, shorters still increasing their shorts but seem to be running out of puff pushing the price down. At some point (I'm not sure where) there will be no more stock to be lent (already 22% has been lent out for shorting which is huge). There is a golden opportunity for a major player here to make a motza. Putting aside the value at this price, if a big player without warning bought a substantial stake on market and pushed the price up to a point where lots of shorts were forced to cover, the price would run hard and fast, at which point the major buyer could sell into the shorters covering. I really like myr at these prices, both from a value perspective and technical perspective. This huge short position is something I've never seen before on a stock with moderate levels of debt and solid cash flows. Even on much riskier stocks like fmg with enormous debt levels the short position is much lower. A huge catalyst for an undervalued stock to run hard.
All imo dyor.
MYR Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
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