short sellers??

Short sellers could be dampening some sentiment as big chunks of short sells tend to create a sell off impression. Yesterday I wondered why at a particular stage there was at least one big sell chunk and thought it might have been short selling. Have just checked yesterdays ASX shortsell list and yes there were over 600,000 PRR shares short sold. They need to create a downward momentum to make money as they have to at some point cover their short sold shares and buy on market. They may have bought back cheaper today to cover yesterdays short sell or they be greedy and are short selling more shares today gambling on the stock falling further. Of course their own short selling would contribute to downside.

The only way they could be beaten is if either buyer momentum strengthens or sellers stop selling at lower prices and prevent the opportunity for short sellers to cover their bets profitably.

It would not surprise me to find that when short selling ratchets up they may appear on threads and talk the stock down.

Hopefully the speculation about coming results will create buyer momentum and/or holder reticence to sell cheaply.

On a more positive note next week we hit September and we will be ever so close to the October results update. IMO holders will over the next month be both enthusiastic and nervous at the same time LOL. A spring in ones step followed by the wobbles.

Just my opinions/speculation of the possibilities as I see them.

cheers