Shorts are basically people betting against a stock, its a little complicated but its the reverse of purchasing of normal stocks.
When you buy a short, you are selling to create your position (which can force a to go sideways/downwards).
Unlike the craziness of US, ASX limits the total short ratio-to normal SOI for about 5-12% I think.
However, due to 88e having a massive SOI, the amount of shorts available/trade able is significantly increased for a typical penny stock.
The first picture shows a chart of the total shorts held / to total market cap-SOI.
Due to the complexity of shorts, this chart is T-4 delayed (4 trading days behind)
The second is a snippet of a pdf showing total gross trades of short positions. Gross trades do not show whether people are exiting or entering the trade. One way to tell is by looking at a normal chart and if the price has gone sideways/down and compare it with the gross short trades, then that is a possible sign people are shorting.
Please DYOR on shorting as its a extremely dangerous financial tool and should not be lightly.
I posts about shorts on 88e as I have a long position and if other people are sceptic as to the price direction that thses charts may help them
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Shorting on 88E, page-69
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.86M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $14.34K | 7.120M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
214 | 199189132 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 578136522 | 209 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
214 | 199189132 | 0.002 |
196 | 902123162 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 537437342 | 207 |
0.004 | 304851469 | 114 |
0.005 | 97922288 | 52 |
0.006 | 31494656 | 32 |
0.007 | 73691083 | 22 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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88E (ASX) Chart |