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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Add NEA (ASX) to my watchlist

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

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Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

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Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

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Sales growth pushes Lovisa's fortunes (and shares) upwards

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels