With respect, day traders, CFD gamblers and people who are reluctant to be short even over the weekend cannot form part of the Aggregated Short Positions numbers as reported to the ASX and published at Shortman and other sources. At the end of every trading day their exposure just returns to zero and nets out. As, by definition, they enter after 10 and are gone by 4 they would only be exposed to major upside risk if there was a Trading Halt during market hours for a subsequent thunderously positive Announcement. They would get hammered on re-open. Excepting that STX's track record following positive Announcements is patchy at best.
Indications are that very short term retail are probably participating, as on many days there is a little half cent or so run up approaching the close, which could indicate the reversal of their positions. But I'm probably reading too much into the data.
Long-Short Arbitrage is well above my pay grade but I'm thinking it's pretty much every man [person] for themself in that space with a myriad of theories on which strategy to play, and with closely guarded motives. No way of clearly detecting its presence or intent. Hopefully there is some Law Of Large Numbers theory to justify assuming that it all just nets out too.
Which just leaves us with a slowly increasing 10.5% short position that is there [relatively] long term. It's big, its solid and it shows no signs of going anywhere - at least not for now. It's Institutional in scope.
Personally, in my mind I've written my STX exposure down to zero value. It's not significant to me in the Big Scheme Of Things. Despite that, I'm not selling because it gives me greater enjoyment to Stand And Be Counted # and give the shorters the proverbial finger., for now
# Referencing the CSNY song of the same name
*Yes it's possible for CFD players to hold overnight or longer, if they are willing to meet the extra conditions.
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Open | High | Low | Value | Volume |
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12 | 635813 | 0.225 |
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15 | 1825074 | 0.215 |
23 | 1068068 | 0.210 |
Price($) | Vol. | No. |
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0.235 | 250000 | 3 |
0.240 | 805779 | 6 |
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