The shorters who have 190 Million shares yet to cover, are very worried that the SP will rise. Rising SP could draw a lot of buying from people who sit on the fence right now and are waiting for a sign to enter.
So first rule in psychology warfare is to extinguish the enthusiastic flame as soon as possible before it could gather any momentum.
What proves my conclusion is the negative reaction of the SP to each good news like today's.
The shorters who have 190 Million shares yet to cover, are very...
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Last
$5.93 |
Change
-0.020(0.34%) |
Mkt cap ! $5.542B | |||
| Open | High | Low | Value | Volume |
| $6.04 | $6.04 | $5.93 | $23.75M | 3.975M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 128544 | $5.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.95 | 12481 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| LYC (ASX) Chart |