Without sounding like a conspiracy theorist, the resource upgrade would normally provide positive sentiment when it is in the measures category. Yet the percentages of shorts continue to have momentum. Today's published daily shorts had over 30% of sales as short again. This indicates to me that smart money is somehow pushing it down for accumulation. If I remember, the last top 20 had KAH increasing their position and I can only guess that it is through buying from the ASX market as opposed to taking off the other top holders. Obviously can't substantiate this suggestion. As it was pointed out that as of 20/8/10, 1.8M shares were shorted and I am sure that will have increased when the latest figures are announced by ASX.
What is making it illogical is that post auction cross trade are changing at much higher prices. Why? Very strange to buy at higher than market prices. Perhaps someone can explain this reverse arbitrage.
Sooner or later a trigger will cause short covering and maybe we have to wait for the DFS or more drill results. Very tempted to add to my position. :) Have patience LT holders
EXT Price at posting:
$6.25 Sentiment: LT Buy Disclosure: Held
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