9SP (ASX) Ann: Change in substantial holding

Originally posted by Mr.Gold: ↑

hey mate hope you don't mind but I'm going to correct a few things you have said... not sure where you got your information from regarding shorts, but it is incorrect.. I think you may have got confused with the reporting of shorts.. Since June 2010 the Australian Securities and Investments Commission (ASIC) has required all stockbrokers to report their total short sale positions daily. This information is released four business days (T+4) after the trade on ASIC’s website.

There is no mandated limit to how long a short position may be held. Short selling involves having a broker who is willing to loan stock with the understanding that they are going to be sold on the open market and replaced at a later date.

The lender of the shorted shares can request that the shares be returned by the investor at any time, with minimal notice, but this rarely happens in practice so long as the short seller keeps paying its margin interest.

hope that clears that up for you

"All I'm looking at is that is the last time we were at lower that 30 on the RSI, we shot to 6c pretty quickly on no news and got speeding tickets. Let's hope we bounce hard! The icing on the cake would be some great news after to build new support."

this is also way off mate... the speeding ticket was given on the run up to 3.8cents... the RSI was never near 30, it was actually in near overbought territory as shown in chart below... the run up to 6 cents was due to actual VISA news.... your a far bit off in your post man... noticed 7 likes, seems a few here arnt actually aware that most of your post is incorrect... I hope you are not offended, I simply think you need correcting... cheers...

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No trouble at all, like I said, I'm uneducated when it comes to this and getting responses like this are always helpful.

I got the Shorts from ASX like you said, I guess from what you're saying, which makes sense, while it they could clear in .4 days, they won't necessarily. I guess I'm hopeful though that the shorter's are happy with their work at these levels and maybe thinking they've made enough money and not prepared to risk any news coming that will squeeze their margins. Seems to be decent volume today at these levels, lets hope so!

Re the RSI, I got that from the 1 day chart on 23 May (possibly further back than what you looked, and what I might have implied?). I was possibly a little loose with my "pretty quickly", but for me, 4 months isn't a long time (23 March to 21 July) . I should have looked harder, you're right Visa announcement was 21 July on the big spike, but we did get to .o38 from .009 without Visa, and we did have two speeding tickets in June prior to Visa.

Happy to keep learning! Cheers