SYR 2.27% 21.5¢ syrah resources limited

Happily wrong today. First hour was interesting - not sure...

  1. 766 Posts.
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    Happily wrong today. First hour was interesting - not sure whether people still trying to work things out, catching up on the w/end news or profit takers from late Friday?
    I thought it might happen over a few days to this point. 70 million shares traded. According to shortman there was 72 million total shorts on October 16 when the SP was about the lowest? From July 17 to Sept 18 the total shorts were fairly steady at 50 million. So, 22 million shares were in the poo as of Friday. There was 33 million total shorts on May12 SP around 96c. I guess most of the shorts could have closed today??
    Does anybody have the daily position? If not covered from May, there's not too much leeway left to be in the money. Of course those with long short positions would be ok but they suffered literally 'The Big Short' today and I guess would have taken the profits.
    Still uncertain how it will play out but strength in the last 30 min bodes well. Might be some consolidation but as the news spreads who know's - closer to $1 now than 50c anyway?? Amazing day GLTA
 
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