in the US, you'll find stocks showing their "short ratio", same as days-to-cover based on average trading volume. Not sure why the same metric is not used in Oz. And you are dead right about the total outstanding shares not representing the shares available to trade.
that being said, the RIC daily volume has been punctuated by some large volume days, which have not seen any significant shorting or short covering.
so we have "average volume" days with very large short volumes, and large volume days with very little shorting or short covering activity
now I wonder if the short trend will hold in the lead up to the ex-dividend date....
RIC Price at posting:
$1.01 Sentiment: Hold Disclosure: Held
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