MIN chart, page-465

Keb and all,

Shorters need plenty in their favour for their 3 card trick to work - small size company, high risk, low liquidity, a credible story and plenty of fear in the market.
so interesting and surprising that the shorts are rolling the dice and selling short on 1 October. BTW the custodians, SS and MS et al do not take positions, they are just custodians and it is their clients who short sell. I guess they saw the bounce as short term and a game they could continue to play.

Over the last 5 days it has been an interesting battle, plenty of victories for the shorters ( red pen), but every day they get beaten by the buyers ( green pen) who come in at some point in the day and get the upper hand. Even today, they only managed to get the price down by $0.60 from the high of $54.00, with an overall positive $2.35 on the day.

Overall the shorters are getting smashed, with the trend being upwards since the 1st and with a rise of $3.50 or 6.8% in the 5 days.

In the month, the story is a scarcely believable rise of $23.34 and 78% - So for every dollar you held short in MIN on 9 sept, you now owe $1.78, call it $1.85 including interest.




Shorting is a tough gig when the bulls are on the charge, so be interesting to see how the short interest plays out over the month. I think the smart money is out and it is the lazy ones who think ozzie miners are easy meat who are getting smashed.

Loving it BTW, bears have had it good for too long with ozzie miners and long may the trend continue!


Wazz