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5.31%

$19.27 fortescue ltd

WierzAgreed - daily short volume is more important than the...

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minval

70 Posts.

22

04/09/24

13:01

Post #: 75524158
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Originally posted by Wierz: ↑

That's total reported open short positions. If you go to the ASX Shortsell text file you'll see that 4.3M on the daily came from short positions on the 2nd.

30% of sales were from shorters with an active goal of tanking the SP, if someone was trying to buy/accumulate for value in this volume the trading strategy would be completely different which is why it's so destructive.

We can talk about a company being identified as overvalued etc but you cant apply this rule to FMG at its market cap, NPAT and Divi returns and then not be totally perplexed a certain taco shop continues to rise.

There is a very concentrated attack on ASX Miners broadly speaking and I think a retail holder has every right to be frustrated by it because they have no option but to HOLD through the storm or SELL which exacerbates the situation further.

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Wierz

Agreed - daily short volume is more important than the aggregate position for daily price fluctuations.
Thanks for your comment.

Minval

FMG Price at posting: $16.29 Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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(20min delay)
Last $19.27		Change -1.080(5.31%)		Mkt cap ! $59.33B

Open	High	Low	Value	Volume
$20.29	$20.61	$18.69	$319.2M	16.25M

Buyers (Bids)

No.	Vol.	Price($)
2	35024	$19.27

Sellers (Offers)

Price($)	Vol.	No.
$19.28	30769	3

View Market Depth

No.	Vol.	Price($)
2	35024	19.270
1	500	19.260
7	8182	19.250
1	1000	19.240
1	14199	19.230

Price($)	Vol.	No.
19.280	30769	3
19.290	7734	2
19.300	1532	2
19.310	23167	2
19.320	18293	1

Last trade - 16.10pm 08/10/2024 (20 minute delay)

FMG (ASX) Chart