I agree. I'm not convinced either. The problem is that we are never given the complete picture on shorts. ASIC publish some of the figures but always with a disclaimer that says they do not guarantee accuracy and completeness.
Another issue is that a reduction in shorts outstanding is logically because shares have been returned to the lender. Those shares may have been purchased that day by the shorter or maybe accumulated over a period of time. We are not told. The only figures we see are the gross shorts sold each day and a figure for short sales outstanding each day. The former is for the previous day and the latter is for 5 or six days prior. It is very difficult to conclude anything with accuracy on that basis. This may be intentional, but I really don't know because we are not allowed to see behind the smoke and mirrors.
WBT Price at posting:
$2.85 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)