There is indeed something strange going on here. The level of...

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austted

496 Posts.

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26/09/18

21:40

Post #: 35865929
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Originally posted by crystalblue ↑

Birdman, this is very interesting, as there were over 6 million shares traded (@$1.74) at closing last Friday 21/9, if you are showing me roughly half are shorts then at some point these positions will need to be covered, so if the current price don’t fall below $1.74 then these shorters are force to pick up stock at increasingly higher prices.

Of course someone could also try to trigger a sp landslide by dumping a portion of their stock in the hope to cover whatever they’ve sold. In this case, I think these shorters will only be successful if this landslide involves more than 3 million shares (below $1.74) otherwise we could breakout of $1.80 if shorters are forced to aggressively cover their positions.

In any case, if the price does slide from here I think all of us will be keen in tracking the volumes.

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There is indeed something strange going on here. The level of shorting on Friday was indeed extraordary. As the company is traveling well with no new news the only relevant event seems to NEA joining the ASX300.

Me still thinks the shorters are trying to scare some of the long term holders into dumping stock and causing a panic thus enabling them to swoop in and buy a large quantity cheap. For one I hope they fail and get burnt in the process

NEA Price at posting: $1.74 Sentiment: Buy Disclosure: Held
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There is indeed something strange going on here. The level of...

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