""OneSteel’s share price has popped 57 per cent in the past three days while during the same period, volumes have increased almost eight-fold from the 2011 daily average.
The most obvious reason for the bounce is short covering of a stock that is suddenly back in favour with investors.
Since Monday’s better than expected result and upbeat commentary, several hedge funds who had shorted the stock within an inch of its life when peer BlueScope announced a surprise capital raising at the end of 2011, have scrambled to cover their positions. This would certainly explain much of the trade."" Source AFR
OST Price at posting:
$1.15 Sentiment: ST Buy Disclosure: Held
