Nige if you look at shortman
https://www.shortman.com.au/stock?q=FMG
youll see that since the last run started on 27th of August there’s been at least 50% shorts by volume virtually every day. They aren’t holding over a retrace they are pumping it up and down during the day. Good for day traders but the problems with it is it uses up the pool of buyers that otherwise would be buying at higher prices (they effectively just churn on the spot), plus the short selling surges cause some to panic out.
eventually the buyers simply run out run out of steam
interestingly short selling was The lowest it’s been for a while yesterday - will be interesting to see tomorrow how high today’s figures are.
Ps haven’t been short selling myself - a guaranteed stop isn’t offered for FMG so I’m too scared
Nige if you look at shortman...
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Last
$17.50 |
Change
0.840(5.04%) |
Mkt cap ! $53.88B | |||
| Open | High | Low | Value | Volume |
| $16.89 | $17.74 | $16.84 | $346.2M | 19.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5870 | $17.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.50 | 12148 | 3 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |