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traderforever

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01/07/24

09:50

Post #: 74542569
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Originally posted by Idle Wanderer ↑

Strike Energy STX up 30% last week, including 12% on Friday. Has been heavily shorted by institutions over the last few months, mostly at prices below 25 cents. Approximately 240 million shorts outstanding, about 8.4% of the register. Last close 28 cents on double the normal daily volume.
Shorters starting to get squeezed and are having to pay increasing prices to exit their losing trades. The next few weeks will be very fruitful for longs if the squeeze gains momentum.

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STX this thing's been a leaky beast least week when all other stocks were getting smashed with EOFY selling. This week should be interesting
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