I would call that Friday session an entree short squeeze. Some very powerful covering. I am only surmising as tbh the asx average punter just doesn’t have the data. It’s a feature of our market that annoys me. Price, volume and momentum the only window in this opaque world.
Some big holders here taking profits and fair enough but they are giving the shorts a doggy door. If we can break $17 then supply will dry as $20 looks more reasonable. I suspect outgoing directors will dump some huge stock built up with the generous comp ASX miners take for granted.
So basically don’t expect a rocket but after $17 things will look interesting for a day trader. Fun and games as my stocks in the bottom draw.
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