Originally posted by eyeinthesky
Am I missing something here? The above figures indicate the outstanding shorts fell by 0.8% on the 14th of January. By my maths with 404,797,403 shares outstanding the total amount of shorts covered, in one day, is 3,238,279 give or take. The short man figures only include ASX volume not CHI-X but anyway you look at it a very large %of the shares traded on both exchanges must have been shorts covering.
Anyone care to add to my thoughts. Have I missed something?
Disclosure...slightly under the weather after a few drinks so not thinking too clearly.
A quick check on the ASIC short report website, it seems that since the start of the year 1 Jan the "reported" shorts have fallen from 30.2m to 25.8 million as of 11/01 and still more reduction it would seem to come over the past few trading days.
This was a very strange short position given that there was all this talk of a takeover at the time, it coincides with the emergence of a lot of nominee companies entering the top 20 reported shareholders, which is normally the case with these "new" resource companies with proven reserves, HSBC nominees dominate several registers out there eg SYR, PLS etc. It looks whoever uses these nominees short and accumulate from those selling into the falling share prices IMHO. The big question is who lent 32 million shares to the shorters ?
