I have been slightly intrigued on the Nanosonics Share Price action in the last month or so. It has seemed to me that somebody was trying to push the SP down to trigger "stops" - driving it lower.
I keep track of aggregated short positions (as everybody should - else the "machines" will get you) and put the following graphic together...
I'll try to explain... The graphic tracks closing price and aggregated short positions from July 1 to Dec 10 (the last available date).
On Aug 21 the closing SP was $1.55 and the Shorts was 0.2%.
By September 1 the SP had fallen to $1.22 and Shorts had risen to 0.6% - win for the "machines"!
By Sept 22 the Shorts had risen to 1.8% with the SP essentially flat, up to $1.33 - tug of war, no winner!
Since Sept 22 the SP has been lower than $1.33 only 7 times with the last time on October 8 - clear win for us investors!!!!
Now the Shorts are at 2% and the SP is $1.69 - smashed 'em baby!!!!!!!!!!!!!!!!!!!!!!
My reading is that any open short sellers from October 8 are well out of the money and they have been trying to push the SP down to close their positions.
MAY THEIR PAIN THEY FEEL BE REAL, STRONG AND UNRELENTING!!!!!!!!!!!!!!
Why self-indulgent?? Putting this graphic together has taken all morning and does not significantly improve by investment position and I want to share the elation of their pain.
NAN Price at posting:
$1.69 Sentiment: Hold Disclosure: Held
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