Just a few interesting figures on short positions in Cudeco for the month of December 2 046 162 opened and
2 221 539 closed this represents 39% of the volume traded for December on the ASX @ 10 890 769 with the share price on the 1st of December @ $1.14 and $1.95 31st of December. With only 4% of the total shares on issue shorted will be interesting to know the volumes attributed to shorting with one that has 10% of its shares on issue shorted.
Short positions only decreased by 175 377 for the month on such a large price increase indicating the inability to close out short positions because of lack of volume. To close out the current short positions of close to 10 million just isn't possible if only 10 890 769 shares traded for the month and that's big month with volumes usually around the 7 to 8 million mark.
39% of the volume yes it certainly adds liquidity with the only downside being those big players that have access to shorting (39%) also have access to HFT and being able to trade in the fraction of a cent so if you think the odds are in favour of the house at the casino look out for these guys they are the card counting sharks.
CDU Price at posting:
$1.45 Sentiment: None Disclosure: Not Held
