I agree with your point that just 3.5% of total issuance being short sales is not very significant.
What interests me is what amount of trading at current price levels can be associated with shorting activity. This year the daily change in reported short positions can be over 80% of daily trades (eg 2nd Feb short positions go from ~31mil to ~36mil). The actual amount of short sales on a day can only be higher than that, as when another shorter closes it obscures the amount of new positions opening.
If significant sales this year were short sales and the coming report re-confirms SPO holders' sentiments that the sp is undervalued, then this year's shorters will have a hard time closing their positions at these price levels. A few ifs I know, but thats what i reckon anyway...
On the other hand there could be a total market crash before we ever see the report.
Good luck to holders (and shorters)
SPO Price at posting:
96.5¢ Sentiment: Hold Disclosure: Held
