I have noticed that the published short sell list http://www.asx.com.au/data/shortsell.txt
for BMN has increased shorted volume. For technical traders/investors this is a perfect scenario for making money on the down side becase the SS creates a spiralling effect. However as this is an artificial reflection on the actual fundamentals that were announced earlier on the JORC resource, would the SP rout be considered as investors fleeing a sinking ship? Could we draw parallels to ABC or CNP or AFG where short selling were adding to the SP rout?
I hold the view that fundamentally there is nothing wrong with the company. It is the outside forces that are at play for instances, short sellers, Savanna, world recession fears, $AUD sinking against USD$, bear run at present, and a host of other inter-related reasons. Not to mention stop losses being triggered as the SP weakens!
For the brave, this is a buying opportunity imo.
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