How this does relates to reported short positions? If we remind ourselves that most short positions are typically held for brief periods of less than a week on average before being closed out while many again are closed out on the same day or even within minutes of the initial transaction taking place this creates a situation where only those short positions that have been recently established will be reported as outstanding. The most likely participants in such a scenario are those that seek to hedge and or short against the box.Does this make a difference to my thinking? Yes, and for this I would venture that your observations are more likely to be true than not for it is not unusual for traders to cover their front end contracts with short positions holdings at a stock level causing many stop losses to be triggered without actual causing change in overall short covering. The recent trading cycles of many of the top ten most shorted stocks on the ASX are less than subtle examples of this.In instance of IMU what has really caught my attention is the manner in which short covering days – often a better indicator or bearish or bullish behavior than the percentage holding itself, has also remained steady and in sync with daily fluctuations in volume for weeks on end. What does all this mean? Ordinarily many market participants expect that a decline in share price will always be accompanied by a pick-up in short-selling outstanding position activity. When this fails to eventuate then surely the question should also then becomes one of why? For this reason alone I remain cautious for all is not always as it appears. Anyway – time now for a glass of red! Till the games begin again tomorrow. My opinion only of course because I like to theorise!
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How this does relates to reported short positions? If we remind...
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Last
5.6¢ |
Change
-0.003(5.08%) |
Mkt cap ! $411.5M |
Open | High | Low | Value | Volume |
5.9¢ | 5.9¢ | 5.5¢ | $2.898M | 51.11M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
41 | 4186955 | 5.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.6¢ | 337877 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
38 | 3644334 | 0.055 |
24 | 2950592 | 0.054 |
18 | 3103271 | 0.053 |
27 | 4642392 | 0.052 |
32 | 4156351 | 0.051 |
Price($) | Vol. | No. |
---|---|---|
0.056 | 337877 | 2 |
0.057 | 1885377 | 7 |
0.058 | 2432851 | 10 |
0.059 | 360650 | 5 |
0.060 | 445928 | 6 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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IMU (ASX) Chart |