Most Recent Short Sales, page-5

That’s very enlightening Birdman, thanks for posting.

 

One thing that baffles me with the short volume as supplied by ASIC and the ASX, is whether the volume only represents shares that have been sold short or ‘sell to open’ trades or whether it includes the closing buy trades or ‘buy to close’ trade volume.

 

Can anyone enlighten me here?

 

Regardless that is a massive short bet that someone placed last Thursday, 10 million dollars worth of stock sold short between $2.62 and low $2.40’s.

 

If these short trades are still open, the traders are taking a multi-million dollar bath on paper currently.

 

This could mean a massive short covering rally if they are forced to exit the position. I expect this would happen if there truly is an unrelenting supply of new shareholders, probably coming from the US.

 

As with myself, I was an impressed user of nearmap back in 2013, and bought shares as soon as the paywall went up, and I know other users who did so as well.

 

The US market is so much bigger, with more users to be impressed and a strong USD/AUD to assist the trades.

 

The counter argument is that NEA is overbought, and these short traders plus possibly other shorters will double up and short sell it some more to ‘tip it over’

 

I must admit, I am gobsmacked at the run. I sold all of the significant number I was holding, 40% at $2.03 and 60% $2.20. I figured the 1 billion dollar level would be resistance, and planned to buy back at low $2’s.

 

I have seen these runs before, when it ran from the 60’s to 90’s and stayed in the 90’s for some time then fell back to as low as 38c and holders were complaining about whether they would ever get their 90 something cents back for months and months.

 

Maybe this time it’s different due to the US market getting on board. Regardless this could go over three dollars or get smashed back towards $2. Too dangerous for my risk appetite to trade this now unfortunately so I will wait patiently to see what happens, with my capital on the sidelines. I can’t argue with the over 11,000 % I have made from buying in and out using the proceeds from that first parcel back in late 2013.