Shorters are sitting on big profits at the moment. They're in...

Shorters are sitting on big profits at the moment. They're in the "greedy" phase, like we were when it went up to $14-15 after FY results and thought it was a shoe in for $16. Only 7% and 4% short volume over the last 2 days, so it's basically holders capitulating.

The share market always overreacts in both directions. It overreacted when it went too high and will probably overreact by taking it too low. At current price I don't think it's at total overreaction stage yet. It's trading at forward earnings PE ~19. An over reaction would be ~15, so around $5. Remember that we need to price in a discount for current management/board as well. I'll put in an order if it gets to low $5s.

Disclosure: jaded ex-holder