I just took a look at the macro-short position in Myer. In a nutshell, there was a significant surge in short positions commencing Late July-August 2014, and this commenced when the share price had been hovering around $2 for a while. The increased short position in totality went from around 10% to 17% where it has existed for a while upto now. Given MYR is now around 1.85, there's not a lot of incentive now for shorters to maintain their position and like the poster above, I can foresee a squeeze coming where they will have to buy back in a hurry to avoid taking a hit. Maybe this is a being engineered already given the increased share price this past month. I can't wait for this to happen given the agony they caused when the stock was forced down into the 1.30's. I topped up a bit at 1.45 so am quite happy about that.
MYR Price at posting:
$1.84 Sentiment: Hold 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)