Quoting myself from an earlier post here about shorting:
"Both of these data sources I have found to be not 100% reliable and don't include naked shorts AFAIK. In any case when the ASIC data becomes available for the last few trading days, I suspect we will see evidence of more shorters active. Shorting relatively illiquid stocks like this should be banned, but the ASX will take commission for anything it seems, so long as there is a buck to be made'
The lack of transparency continues.
Downloaded the latest ASIC shorting data from http://www.asic.gov.au/short-position-reports
This data from ASIC indicates NO shorting activity over the last couple of weeks. In fact the last shorting activity in the ASIC report, was back on the 6th of Nov for about 578 shares.
The daily ASX short reporting has however, indicated a lot of activity, sometimes well beyond 10% of days trade in the last two weeks, especially around the price collapse to low 40's.
ASIC does have the following disclaimer on their page but it make me wonder why they bother reporting this at all if the data is this useless:
'It is important to note that ASIC’s aggregated short position reports are reliant on the accuracy of reports we receive from individual short sellers. While we will monitor compliance with short position reporting and provide additional guidance where necessary, we are unable to verify the accuracy of all individual reports submitted to ASIC, nor to verify that all short sellers in our market (both in Australia and overseas) are lodging reports.
Disclaimer: No responsibility is accepted for any inaccuracies contained in the matter published.
Please note that due to technical difficulties experienced by ASIC, there may be some noticeable variations in the short positions reported compared to the previous day's report. We apologise for any inconvenience this may cause. View the list of reports affected '
NEA Price at posting:
54.0¢ Sentiment: None Disclosure: Not Held
