Short sales figure for yesterday was massive relative to previous days.
IGO IGO LIMITED FPO 1,935,164 757,267,813 .25
We have 0.25% of the entire float got sold short yesterday. The shorts altogether sold about 16 million dollars worth of IGO in one day. And today, these late shorts are being burned again. It looks like the shorts fought hard yesterday trying to drive the price down and failed. Perhaps, the instos are buying again. When IGO gets above 9 and stick around above this point for a month, we would have a bottom set at about 7.45.
The smart shorts would have taken profit. They are not stupid to re-enter now. This leaves the late shorts very lonely and selling it down now can actually add fuel to the fire as it goes up and cause it to overshoot. This is why we saw some violent upswings and then sharp drops after that.
The mentalist, page-75
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Last
$5.84 |
Change
0.180(3.18%) |
Mkt cap ! $4.498B | |||
| Open | High | Low | Value | Volume |
| $5.89 | $6.03 | $5.79 | $14.86M | 2.520M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 4017 | $5.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.84 | 6058 | 15 |
View Market Depth
| Last trade - 12.50pm 07/10/2024 (20 minute delay) ? |
| IGO (ASX) Chart |