PET-conomics, page-74

You would have thought that by now somespeculators might start buying into PET in anticipation of a positive BusinessUpdate due shortly. But no: the sell orders keep coming thick and fast.

A few numbers to consider:

Share turnover from 27 Dec to 8 Jan is justunder 4.1 mill. Short Sales for the same period according to ASX total 818,000 which represents 20%of turnover. So the shorters are still hard at it. ASIC short positions are 8,089,248as at 3 Jan.

From 20 Sept to 8 Jan share turnover is approx.171 mil, excluding director sales, which represents just under 41% of sharesheld by those other than directors. ASX short sales total just over 23 mil forthe same period, which represents approx. 13.5% of all sales.

So what is going on. No one has declared achange in substantial holding which at 5% would come to just over 28 milshares. There are not many Institutional Investors and we know one has lent hisshares out to shorters so they can’t be selling.

That leaves small shareholders selling out or……..?

Any ideas?????

Cheers!!!