A great day at long last for BLY shareholders. A couple of days...

A great day at long last for BLY shareholders.

A couple of days ago, I reported the short selling total for BLY as at July 2nd to be 46.9m. The latest figure on July 11th is 42.1m. That is a decrease in short selling from 10.4% to 9.3% of the total shares on issue. The ASIC figures are six days out of date and clearly, the pressure on the short sellers has been much more in the last two days.

This site does an analysis on the short selling:

http://www.igmarkets.com.au/cfd/the-short-report.html

and lists five or six stocks that have increased or decreased the most in percentage of short selling. Generally to appear in the list, the short selling has to rise or fall by around 0.8 percent of the total stocks on issue so BLY must be due to join the list of decreasing shorts. I think we will see BLY in the list tomorrow and if not tomorrow certainly some time very soon.

I would hate to be a short seller in BLY right now. It would be a sleepless night.

GPASAS