No sign of short covering yet (volumes over the past few days remain fairly typical).
Article in yesterday's AFR said that the Chinese stimulus recently announced has caused a big pivot from Financial stocks to Resources stocks on the ASX. The article contained the following quote.
_ ‘‘These measures by China [were] a
big shock to the market, but it’s like a
king-hit to the shorts–manyhavebeen
completely blindsided by this who had
been happily shorting every resource
name they could, thinking it was easy
money,’’ said Bell Potter strategist
RichardCoppleson.
IMHO patience remains the key.
FT
No sign of short covering yet (volumes over the past few days...
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$10.16 |
Change
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Mkt cap ! $3.038B | |||
| Open | High | Low | Value | Volume |
| $10.00 | $10.24 | $9.96 | $17.95M | 1.771M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5383 | $10.16 |
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| Price($) | Vol. | No. |
|---|---|---|
| $10.19 | 1000 | 1 |
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| PDN (ASX) Chart |