The Aussie shorts were covering since Xmas Eve, and it really picked up speed last week. That general trend has been helping the share price and probably helped us recover fast from the CR, including the past few days where we filled the gap and today started to move ahead again above the gap.On Dec 24 there were 40.4m short and that fell to 32.4m by Dec 31 - as the shorts covered, the price rose from A2.55 to A3.35. There were days at the end of that period where the volume on ASX was 10m to 16m per day which is unusually high for the time of year - no doubt propelled by the short covering.Things were quieter in the first 2 weeks of Jan, with volumes on ASX falling to 5-10m per day and the shorts bought back a more modest 1.5m shares by Jan 9th, taking the short to 30.9m as the price fell back down to A2.80, and we filled the gap left from the big jump when the shorts were covering on 31 Dec. The shares were then in trading halt for the A2.50 CR until Jan 14 - the shorts actually jumped that day as they probably thought it was an easy short above the CR price- so the share price fell to A2.55 and the shorts rose by 4.3m that day to 35.2m - that was significant relative to the volume that day of 10.5m. Since then, the shorts have bought back and the share price has risen. By Jan 20 there were only 21.3m short, which was 1.69% of the company. That percentage short is the lowest I can remember.The shorts have been burned to a crisp and don't appear to have got much in the CR.
Ha Stocksa Shorts got nothing and you posted 80 times saying they did,
Geez,
ECool
Aloha.
MSB Price at posting:
$2.87 Sentiment: Buy Disclosure: Held
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