Have we reached bottom?, page-31

Aggregate shorts have dropped from 9.9% total capital shorted in Nov-18 to 8.8% as of 31st January.




From 1st Feb, the daily reported gross shorts from ASX show a slow down in total volume so it may transpire that the aggs decline even further in the coming days (lagging 4 business day).

We really need to hammer our way up through the downward trending resistance line which is basically tracking the 50EMA perfectly now.

Make or break. The report will either please or it won't. The market will either buy it or sell it. Risky play but I think the upside is over 45% (up to 200EMA) with the downside being a lot less than -45% (one would expect given the very poor valuation that would imply).