SYR is the most indicated shorted stock on the Shortman website. [1] Yet despite this, SYR is in a strong uptrend. So what do you trust in; a website, or the chart? Price action on a chart always wins out for me.
Standout lesson 1: short sellers do not drive down prices down, especially for large volume stocks such as SYR and FMG. Rather, prices decline because of negative bearish sentiment. Sellers are more aggressive in selling compared to buyers. For every transaction there is only one buyer and one seller.
Standout lesson 2: many short sellers are clearly ignorant of basic trend following technical analysis. Why would anyone short strong uptrend stocks such as IGO, WSA, GXY, and ORE? Doing that will only lead to the poor house.
1. https://www.shortman.com.au/top
Current long portfolio:
ACX_AGY_ALU_APT_APX_ASL_AVZ_A2M_BKL_BSL_CWY_LVH_MLX_NWH_NXT_ORE_SYR
Short covering Started?, page-101
Add SYR (ASX) to my watchlist
 (20min delay)
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Last
35.5¢ |
Change
-0.010(2.74%) |
Mkt cap ! $367.3M | |||
| Open | High | Low | Value | Volume |
| 35.5¢ | 37.0¢ | 35.0¢ | $2.274M | 6.355M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 189831 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 53310 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| SYR (ASX) Chart |