The interesting thing is now there is 10% of the stock shorted, what is keeping the price of Santos shares down are the shares the shorters are constantly dumping, from research I did there are up to 20% of the stock held by instos and could be available for the shorters to borrow, so with no good news soon the shorters will still be able to sell more shares and put downward pressure on the Sp.
what have saved the SP from sinking below $4 so far was Woodside's bid for OSH and the rebound of price of oil back to the high 40's. also helping is our dollar going up a little.
With Venezuela nagging about the price of oil and have come to some sort of an agreement with Russia, we might hear very soon an announcement on the cutting the production of oil to prop up the price of oil to at least $70, I firmly believe this will happen before the end of this year.
good luck to all long time holders like me, and down with the shorters who I hope will get burned by a favourable black Swan event soon.
the counterintuitive trend tells me the market is in trouble, page-4
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Last
$7.41 |
Change
0.140(1.93%) |
Mkt cap ! $24.04B | |||
| Open | High | Low | Value | Volume |
| $7.34 | $7.47 | $7.32 | $66.17M | 8.928M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19097 | $7.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.42 | 41631 | 1 |
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| Last trade - 16.10pm 27/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |