Some covering appears to have taken place, however, we’ll need to wait and see some further updates, to confirm if it is a temporary situation, or if the numbers remain on the upward incline.
It’s just interesting to be watching the state of play at the moment. The bot work and the cross trades that are happening on any given trading day.
The powers that be are really working the trading in our Galaxy.
It will have to come to an head at some stage, when the shorters/manipulators have truly exhausted supplies, and have no more shares to play with, however, it seems to me that it’s anyone’s guess as to when this scenario may indeed gather more steam.
Maybe they are already on heat, but are not letting on to us. Unless they are going to be engaging in some sort of off market activity, or broker deals, to eventually cover a fair chunk of their outstanding short positions, then, their hides will well and truly be cooked, when sentiment in the Galaxy, and the market does start to turn.
Unless the retail shorter really knows what they’re doing, they could be setting themselves up to lose a lot of money in the process, and may not even know what hits them, as sentiment becomes bold, can change very swiftly, and they become the collateral damage.
I really do hope that the share price recovers enough in the interim, for you to feel a little bit of optimism and peace around your investment, until such a time arrives, that the share price eventually exceeds your best expectations. GL
GXY Price at posting:
$1.98 Sentiment: Buy Disclosure: Held