The data from yesterday shows that a fifth of all sales were short sales.
Looking at the charts and the volumes it appears that the short sales occurred within the first hour with potential buys around 2.40pm or so. There might have been some late purchases of the shorts in the closing auction too.
At the very best case we are talking about a 1c differential. For a volume of just over 1M shares, this represents a potential profit of $10k against around $40k in equity committed. It is a very good return on that basis and even if it were only half that you can see what they are doing it.
The day before shorting was almost non-existent (only around 80000 shares) but yesterdays 1M+ shares is pretty much back to business as usual.
If I have a purely selfish Christmas wish it would be for an intra day announcement of a big resource upgrade where the shorters have to buy back in during a scramble for shares.
I really hate shorters.
GLTAH and all genuine investors!!!!
AJM Price at posting:
38.5¢ Sentiment: Hold Disclosure: Held
