Yeah - but even today it looks like 2m shares have gone through...

Yeah - but even today it looks like 2m shares have gone through so the short interest is only 2 days to cover, which is very Low and they have been net buyers recently.

When a stock has a short interest of 10-15% and 30-40+ DTC then it is typically considered high. There are a number of stocks like this on the ASX.

I agree that they may try to tick the stock down or stack the offer to try to cover lower, but I don't think that has a big impact on the primary trend.

I posted a while ago the amount of volume that had gone through since the top and the amount of shorts since then. I can't remember the exact number, but it was very small.

Anyway, it is a positive sign some shorts are covering. A good quarterly and lots of retailers and momentum Traders will jump on board.

BTW - I'm sure you know this but ML is the PB for underlying funds. It is not trading for ML itself. Same with most big banks in Oz. But as you rightly say it will be insto flow.

Good luck.