Dec 19 last year Van Eck sold down on their index re-balancing. This was preceded by a drop in the SP. The shorters took the opportunity to cover a lot of their shorts and on the next trading day the price rebounded and the upward trend continued.
Are we at the same junction now? ASX re-balancing was on Friday and there was a big (well not as big as Van Eck) selloff after the close. Did the shorters cover? Will the upward trend continue? I hope so 'cause I topped up.
MML Price at posting:
82.0¢ Sentiment: Hold Disclosure: Held
