I guess my point is the price discovery mechanism is significantly distorted when half of the shares offered for sale in a day aren't owned by the people who are selling them...
I understand your frustration but you also need to note that if 50% of the sales are short, a corresponding number of buyers would be covering their shorts. The shorters are putting their bacon on the line probably to a higher degree than the longs. The shorts are the ones who provide the fuel for the takeoff when they start covering them.
In general, I do agree that shorts create unnecessary volatily in both up and downtrending markets.
I woudl wait for a close near the top in order to buy into AGO at the moment. Still waiting for the buy signal.
AGO Price at posting:
93.5¢ Sentiment: Buy Disclosure: Held
