There appears to be something of an effort to turn things around at the start of trading today. I have been watching the short selling at Elders and it has been pretty solid the last few days. Here is the latest one available:
So on Thursday 327,463 shares or 30 percent of the days trades were short sold.
It will be interesting to see the figures for Friday when they come. Some 6 million went through on a single trade so the percentage won't be as high but the absolute figure will be interesting.
If these shares do manage to turn around the short sellers are going to have to come back in and buy these shares back and that will help any recovery. I think this is one of the reasons why stocks like these often take off when they turn around they don't just meander back. PPX and API are examples.
GPASAS
ELD Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
