Yeah I guess. the problem here isn’t shorts though, it’s institutions that are likely Selling back and forth to each other (look at the almost daily offical change in interest) which is Giving the illusion of volume that isn’t there. Large parcels or shares are traded at the open especially on red days, if the gold market is down 1% they make sure we open down 7% and then they keep it there for a few hours hoping for retail to panic sell. It’s pissing everyone off, and if they are doing this it’s against the law
fundamentals will win in the end of course, but it causes a lot of noise in the meantime. Unfortunately illiquid ASX mid cap stocks are great targets for them, the market cap is big enough for them to make good $ and the volume is low enough for them to dominate the stock like it’s a gimp
WGX Price at posting:
87.0¢ Sentiment: Buy Disclosure: Held
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