The proportion of capital shorted dropped on 30 Dec to 10.41%. Then on 3, 4th and 5th of Jan the shorters added new short positions taking the proportion of capital shorted to 12.1%. This is around 6.6 million new short positions. However, on these days only 63,139 shares were shorted on the ASX. Thus 6.5 million new short positions were established on CHI-X. I am not sure what this means.
I remain of the view that the shorters will be nervous. See my earlier post. The shorters are increasing their positions but the share price keeps coming back bid. Maybe the shorters will continue and the buyers will give up or wait for lower prices. Or maybe the buyers are so keen to hold TFC they are happy to buy at these levels. Or maybe the lenders of the stock (to enable the shorting) are trying to squeeze the shorters by buying and buying more stock.
TFC Price at posting:
$1.66 Sentiment: Buy Disclosure: Held
