Interesting interview from a broker from BMO capital talking about the U sector. I took this from another website courtesy of Simrose.
I wonder if the broker's speculation that the fall in the share price could trigger an opportunistic bid for EXT is reflected on the London sentiment of KAH rally on Friday or just an outcome of EXT's bounce on Friday here.
Simrose also mentioned that "Global X Funds have increased their holdings to 1,368,748 which = 4.88% of their portfolio". I am assuming that at the big end of town the high volume of activity is a consequence of opportunistic short term hedge funds that specialised in TO activities now being replaced with some specialised commodities funds that are taking a more strategic view on this sector. I am hoping that we are inheriting new strategic players in the shareholding to give some price stability instead of the short term vultures playing on the price swings.
http://www.asx.com.au/data/shortsell.txt
Thursday gap down day has seen increased short selling from the day before from 4% to 10%. Playing into the hands of the shorters yet again but I anticipated that. However we can just as easily have a short coveting from a snow balling effect so it would be interesting to see if the bulls or bears win out as the increasing speculation of a bid or counter bid will hopefully take place.
A little bit of prayer and quiet optimism on my part as I sit and wait as the news unfold in Fukushima.
EXT Price at posting:
$7.00 Sentiment: Buy Disclosure: Held
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(20min delay)