Something seems to be missing in the logic of elevated short covering yesterday as a result of the rebalance. If it was anticipated AGY would drop out of the ASX300 and that various funds would need to sell as a result, I would expect that to put pressure on the share price, right up a shorters alley. In that case, why would shorters sell and push the price up so soon? Understand there are other factors putting upward pressure on the SP and there could be some fear in play but it still doesn't seem right to me.
Ann: S&P DJI Announces March 2024 Quarterly Rebalance, page-18
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Last
4.0¢ |
Change
0.001(1.28%) |
Mkt cap ! $58.96M | |||
| Open | High | Low | Value | Volume |
| 4.0¢ | 4.3¢ | 4.0¢ | $248.7K | 6.051M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 1200444 | 3.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.0¢ | 217052 | 2 |
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| Last trade - 15.48pm 08/10/2024 (20 minute delay) ? |
| AGY (ASX) Chart |