Watching this morning's trades its pretty clear most of the downward pressure are shorters TRYING desperately to get out and close their short positions.
Shortman is a crude indicator (not 100% reliable) of shorters selling their BORROWED shares. Once they have made their short sale, they then have to try BUY BACK in so they can return the BORROWED shares back to the lenders.
Is there any more free float around for shorters to buy back in? Looks like there was some this morning hence the downward pressure but not for long.
I would hate to be in that position if you ask me. The Short thesis has evaporated Into thin air and only one way the SP is going - UP. Question is timing - how much time do they have to do all of that?
Clock is ticking and fast ....,
BOE Price at posting:
$4.06 Sentiment: Hold Disclosure: Held
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