thelynxx,Thanks for the extensive post. However I understand...

thelynxx,
Thanks for the extensive post. However I understand perfectly how shorting works and why it's done. A couple of problems here: First, the volume has not been low. In fact, it is an up-trend, but the activity is increasing. Secondly, you have not commented on the imminent admission to the ASX300 and whether you think that fund managers or instos might be positioning themselves for that listing.

I hear what you are saying about the 10k shares in and 10k shares out. But if this company were allowed to rise on the basis of the positives, those idiots would make a lot more money than the 1-2 cents per day they might be harvesting.

Nope. This is bigger than a few profiteering shorters. I'll stick to my theory, but thanks for yours. I will remind people of our "bet." Here's the pertinent part of your post from 15 Feb: (Have a good weekend, and take some time to breathe!)

"Yes I am, but my estimate will probably be closer to 80c than 60c-----assuming of course that I am right in the first place.
My formula is 76/181 x $2.20 (+ or - 20%) for market factors or 92.37c (+ or - 20%).(97c was recently hit intraday).
If the market is very strong,then up to $1.10.
If the market is fairly neutral,then around 90c to 93c.
I'm expecting a slightly negative market,so 74c to 80c.
My time frame is within 30 days AFTER the 31 M shares have ACTUALLY been added to issued capital by GXY(ie issued capital of 181 M shares)-- currently expected in early May 2010 ( GXY has today announced that they expect to receive payment for those shares in early April 2010)."