The potential % of shorts that may still be borrowed in attempting to drive the price down is an interesting point imo.
Shortman has GXY shorts outstanding currently at around 18.3%. From my periodic observations of the data on shortman, it is very rare for a stock to much over 20% shorts outstanding and I can't remember seeing any go over 25% - certainly not any company that has good fundamentals (the likes of SGH may have gone that high).
All of which implies there is very little stock left to borrow for shorters to sustain downward SP pressure in the face of continued buying support (if not buying pressure) - i.e. shorters have very little available ammo left to push the price down, if the above logic is correct.
Cheers, Sharks
GXY Price at posting:
$2.87 Sentiment: Buy Disclosure: Held
