Interesting data on the Shorts from Thursday July 16 to Friday July 17, short position went from 13.96% to 13.58%, 0.38% covered. Now guess what, the price of MINs was about $27.9 on the Thursday and $29 on the Friday!
If you have any conviction in your trade you short more when the price goes up, not less. They should be buying back when price is say $20, and selling more as it went from $27.9 to $29.
I'm basically saying for this 0.38 % they were happy to remain sellers at $27.9 on the thursday, and then buyers at $29 on the Friday.
That's very clever!
But it also tells me they have nothing. And nothing but even more losses to look foward too!
If they had something, they'd be shorting more as the price goes up because it becomes a better trade, not a worse one.
MIN Price at posting:
$32.10 Sentiment: Buy Disclosure: Held
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