Gross shorts showed a peak last thursday. Gross shorts around 4 million or below today may indicate the shorters are backing off.If the SP returns to the precompression trend soon it should be about $2.21; ie ignoring the Direct Shipping Ore slump, which was asserted by CITIBANK to be a gross over reaction.
A tribute to Airconditioner:
I told a a few investor friends his DSO analogy "carrots to Coles." They had already heard it but cracked up anyway. One said "too true to be funny!" I think it has joined the ranks of classic quips. I hope it reaches Deutsche Bank and its dopey analyst.
Chart, page-418
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