there was 23.5m shares short sold prior to trade commencing this morning. Depending what price the "shorter" borrowed and sold the shares at dictates whether they are getting "burnt" or not. From the chart of short levels approx 11m were shorted in the last couple of months which provides a top price of $4.20. so of those 11m, those who sold from $4.20 down would now be looking to buy back those shares to return them. It's mighty hard to buy 11m Silex shares without pumping the price significantly. So, in all likelihood some of these shorters are going to get burnt.
SLX Price at posting:
$3.99 Sentiment: Buy Disclosure: Held
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