The ASX Daily gross short sales for 3 June shows that about 41% of the 2.284m MCR shares traded were short sales (943,000).
That seems like a lot.
Trouble is, I'm to sure how to interpret this data.
What I am looking for is evidence for at short term bounce related to short covering. The data for 3 June is 'Gross', which means that these positions could have been covered on the same day, and we could not expect a bounce later on as the positions are covered.
What would probably be more useful is a total for 'Net' short sales and to have a cumulative total of net short sales.
Has anybody seen this type of data before? Is it available on the ASX?
What about does this even make a difference? I'm long MCR as a long term (3-5 years) investment but thinking about shorter term movements in price and whether there is a buck or two to be made in the short term.
The ASX Daily gross short sales for 3 June shows that about 41%...
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