If we can believe ASIC, there were 98.6m outstanding shorts as at 20 June (ASIC's last report).
On 21/22/23 June (Tue/Wed/Thur), ASX reported 14.0m/17.3m/12.2m new shorts. And the LKE turnover was huge on those days, with the ASX+ChiX total figures being 89m/140m/140m. So as a proportion of turnover, the new shorts were fast-declining as last week progressed (15.7%/11.3%/7.9%), having been between 25% & 36% on the preceding four trading days from 15-20 June.
What we don't know until ASIC reports from tomorrow is whether/when the short covering started to kick in. Bearing in mind last Tue/Wed/Thur saw drops of 28.4%/13.4%/16.7% in the share price, it's a little hard to see too much covering (ie buying) on those days. So I'm guessing we may see the overall shorts rise a little, over the 100m mark.
Friday (24 Jun) may be a different story. We'll see from ASX tomorrow how many new shorts were amongst the still very high turnover of nearly 132m (ASX+ChiX), but with the 15% share price rise, maybe that's the start of some concerted covering which hopefully continues this coming week.
But, as I have said variously in the past though, never try to understand or underestimate shorters
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Last
3.6¢ |
Change
0.001(2.86%) |
Mkt cap ! $60.06M |
Open | High | Low | Value | Volume |
3.5¢ | 3.7¢ | 3.5¢ | $188.2K | 5.255M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 13888 | 3.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.7¢ | 854308 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13888 | 0.036 |
39 | 3329625 | 0.035 |
16 | 1426953 | 0.034 |
12 | 1290047 | 0.033 |
11 | 1002521 | 0.032 |
Price($) | Vol. | No. |
---|---|---|
0.037 | 854308 | 7 |
0.038 | 733416 | 12 |
0.039 | 2063158 | 12 |
0.040 | 1053029 | 19 |
0.041 | 1749539 | 8 |
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