This exactly. There is 10% of the register that is short - #2...

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14/06/23

17:07

Post #: 68285892
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Originally posted by Kiwisfly9: ↑

Im not taking less than 3 either.

The shorters have piled in for a reason because they smell major opportunity on a smash and grab and many of them were hoping to collapse the share price so they could collect on their shorting bets and then scoop up the shares on the cheap before the re-correction back to sensible market pricing came with tax season over and behind us and us hitting name plate and a wave of new institutional investors coming in.

Problem for them is too many of them got the same idea to rip off the stock so now with so many shorts owing its gonna be incredibly damaging for a lot of them when the exit happens and the price slingshots as shorters begin to cover.

Even better is that retail long holders have figured out what's going on and just aren't selling much as they too, know what's coming and can see the clock running out for shorters to get out the door on time before their fingers are burned.

It's inevitable and the irony here us that its all these shooters piling on because of their greed and the fact that they have all piled on without thinking about where the covers are gonna come from without sending the SP skyrocketing when they all need to start exiting at a similar time which is gonna hurt a lot of them real hard shortly.

I will be waiting with popcorn and the smuggest, most dirty look on my face when it happens!

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This exactly.
There is 10% of the register that is short - #2 most shorted stock on the ASX.
Holding short is not a forever strategy - there will need to be cover sooner or later.

Add the 180m or so shorts to the buy register, and you have a neutral SP of over $2. If you sell out now you are falling into the exact trap the shorters are hoping you fall into, sell to give them the shares to cover.

CXO Price at posting: $1.04 Sentiment: Buy Disclosure: Held
17 Upvote

3 Great analysis

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(20min delay)
Last 9.4¢		Change 0.003(3.30%)		Mkt cap ! $194.4M

Open	High	Low	Value	Volume
9.2¢	9.5¢	9.0¢	$762.9K	8.269M

Buyers (Bids)

No.	Vol.	Price($)
4	128404	9.3¢

Sellers (Offers)

Price($)	Vol.	No.
9.4¢	142607	6

View Market Depth

No.	Vol.	Price($)
4	128404	0.093
10	365320	0.092
12	1129840	0.091
77	2784301	0.090
25	2046806	0.089

Price($)	Vol.	No.
0.094	142607	6
0.095	278567	10
0.096	242646	5
0.097	291603	7
0.098	532459	5

Last trade - 12.48pm 31/07/2024 (20 minute delay)

CXO (ASX) Chart

This exactly. There is 10% of the register that is short - #2...

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This exactly. There is 10% of the register that is short - #2...

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