LNG shorts have dropped from close to 5% in April to 3.46% at the end of May. That is close to 7.5 million shorters fleeing for cover.
Note there are still 17.5 million shorted shares so plenty of time for more to flee especially with the following news in the pipeline:
- DOE approval
- Construction
- Further BTAs
Please note that shorted volumes have dropped significantly last week. They are almost non-existent. Sure we saw 63.2 cents being shorted down to 60 cents, but then the buyers flooded in late in the day to prop it up to 62 cents.
