Charting Only., page-2515

I've been thinking about the shorters too, several here have commented that shorts stopped increasing at Christmas. i.e the short % stopped rising.

Now at some point they need to close and buy back and I can't see how they have made any money as the short % constantly rose through all December. Yes the IMU price fell from 13.5 at the start of December to 9.8c mid December and if the shorts had have closed at SP low and the % shorted fell then sure, they've done well. But they didn't, they still hold and kept shorting.

Those that shorted at the start of December might have 1-1.5c profit (having short sold at 13-13.5c) but those that shorted from 10th December onwards (around half of the current shorts) are under water.

If the SP keeps moving up as today's announcement washes through the market then surely there is pressure on those positions need to close?