RE:ANV is most shorted gold stock Its now up to #27 with 35.52% of the float. Shorts have added almost 3 million shares.
Note:
HighShortInterest.com Stocks with high short interest are often very volatile and are well known for making explosive upside moves (known as a short squeeze). Stock traders will often flock to such stocks for no reason other than the fact that they have a high short interest and the price can potentially move up very quickly as traders with open short positions move to cover.
quote=BREAKtheCOMEX]Russel 2000 top 50 shorted stocks by float % has ANV at # 47 with 32.7 % of shares or 31.7 million shares are sold short.
With a huge defensive barrier of naked shorts on Gold at the low $1300's we may have the perfect storm for ANV if Russia and China push gold through this barrier just to PlSS-off the west. But then again, why would the east force the price higher when they are the ones benefiting the most from cheap gold. The sellers are getting hosed which are mostly the miners.
Currently, miners are producing about $125 Billion worth of gold annually. The gold price will likely flounder until the west start to compete with the east for the physical gold. Currently, rich westerners do not see the inflation like the poor do, but the poor can not compete for the gold. When the rich see their wealth declining due to inflation, they will look for ways to preserve their wealth. The first to realize the decline will benefit the most by buying gold and gold miner shares when they are the cheapest. [/quote]