Weekly Reports | Oct 10 2019
See Guide further below (for readers with full access).
Week ending October 3, 2019
Last week ended with a major sell-off for the ASX200, in line with Wall Street’s response to a slew of weak US data and the re-emergence of the R-word.
Such a sell-off would be reason enough to assume an opportunity for shorters to take profits, and the sea of green below would be testament. But…
I’m just a little bit sceptical because I’ve been here before often enough to know that when shorts appeared to be covered in such numbers, it could be a case of misleading ASIC data. It may all revert next week. For now, we’ll take it as read, but with a grain of salt until then
What does definitely make sense is a drop in shorts in Nufarm ((NUF)) to 12.7% from a table-topping 17.4%, leaving a familiar scene of the top three shorted stocks all being battery-related miners. See below.
Otherwise, JB Hi-Fi ((JBH)) shorts fell to 11.5% from 13.1% and GWA Group ((GWA)) to 10.8% from 12.3%. See below.
Weekly short positions as a percentage of market cap: