ARU ARAFURA RARE EARTHS LTD FPO 523,217 2,310,302,192 .02(Monday's shorts above, c/- ASX)
So far so good ... the short data is standing up to scrutiny. 500k shorts yesterday. Now trading the 19-19.5 gap as anticipated. And they will keep pushing it down until BUYERS outweigh them ... it's not about blind longs holding - it's about buying exceeding the short selling.
I expect (but I can't guarantee) - the shorts must know they will cover at some liquidity event in the near future ... hence they churn it lower making a small margin on the mid-point trades and knowing they are squeezing the SP for a better finance deal, from when they'll go long and cash in their shorting profits.
Seems pretty obvious to me at this stage ... blind longs always struggle with this scenario. Have noticed the pattern on many stocks over the years - it takes a while to be "enlightened".
Arafura Rare Earths Ltd, page-492
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Last
14.0¢ |
Change
0.005(3.70%) |
Mkt cap ! $345.0M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 14.0¢ | 13.5¢ | $290.0K | 2.097M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 50 | 1872612 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 584726 | 14 |
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| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| ARU (ASX) Chart |