Thanks ainsleym. Just looked and the report for the 10/09/15 had the short position shoot back up to 122m, a 13m increase from the previous day. Once again the volume for the 10th was only 5.8m shares. So no idea how this position bounces around so much with the volume traded much lower.
As long as the bulk of the short position needs to be closed on market then we have a trigger for a big surge in the price. If it can be closed off market somehow then not so much. Seems to be turning up, too early to call a low yet though.
Read this morning that Perpetual is one of the sub underwriters and will end up with just shy of 15% of myr after the retail entitlement shares are done. This could turn out to be a good investment for them.
All imo dyor
MYR Price at posting:
88.7¢ Sentiment: Hold Disclosure: Held
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