@Mturns, I scratched my head with the same question. But then there might be more market sensitive info in the upcoming ASX announcement regarding POSCO deal. US $280Mil is a great cash boost to develop SDV debt free, but I suspect the real kicker is in the anticipated info about the partnership, unlocking synergies and more $$$ from SDV and maybe JB!?!
It is this anticipation that has everyone excited....and of cause the chance of getting back at MS and their shorter cronies.
AT has a way of catching most investors and traders off guard with announcing significant company progress decision. Unfortunately, the timing of these news doesn.t always agree with the herd mentality of the smart money at that particular moment.
I am cautiously optimistic that GXY will have a good run when it trades againt, including some catch up from the positive day of li miners yesterday.
I don.t think we will see a big bonfire of shorts...some retail shorts will surely be crisped but the bug boys have their exit plan secured beforw they enter a big short campaign.
On the other hand, the several fold increase in outstanding shorts to >17% didn.t do too much damage to the SP, which stayed in the 3$ range. If anything, this suggest that 17% shorts built up some decent pressure, and SP might react like a wound up spring, uncoilling SP into the mid 4$.
I am loaded, but am ready to play a short term trade with some extra cash just to make short covering a little bit harder.
Fun times ahead!!!
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@Mturns, I scratched my head with the same question. But then...
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