Good stuff John, I periodically read the short reports too. I...

Good stuff John, I periodically read the short reports too. I find it very useful to overlay the price chart with the short data for a specific stock. That way it is possible to see if there is any historical indication of shorters being ahead of the price action.

Perseus is one where last year the ramping or curtailing of shorting activity coincided with the start of significant price moves. Pesesus shorting has been very stable for the last month ~4.2%.

I think it is key to recognise that since gold stocks are so unloved the pool of potential buyers and sellers is extremely shallow. The attitude of relatively few players therefore has a greater potential to indicate where the market is heading. Shorters are also generally 'smart money' (although not some of them hotcopper).