Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.


TSX:FT - Post by User

Bullboard Posts
Post by member321on Feb 19, 2011 11:29pm
645 Views
Post# 18165701

Short Interest

Short InterestShort interest increased 109,600 from 467,200 as of 1 February to 576,800 as of 15 February. Here is the graphical and tabular report:

https://www.dailyfinance.com/company/fortune-minerals-limited/ft/tor/short-interest


As the report is only every two weeks we do not know exactly when that increase occured but if we look at the price chart we see the share price rise in the first week of February then a drop off in the second week. On that basis one could surmise the short selling occurred in the second week of February.

Since, in the last four trading session, the share price has rebounded, especially strongly on 17 February with the news release of the public meeting, to continue its strong upward trend through February that is a resumption of the longer term upward trend at the end of 2009 that started back in Sepetember.

The likely short interest sell off in the second week of February was a short lived down ward blip that quickly reversed. Technically, the trend would indicate in the coming week the strong upward trend will continue and that the stock is not over bought.

Here is the stock chart:

https://stockcharts.com/freecharts/gallery.html?FT.TO


This strong uptrend makes it look like a danger to short and likely there will be short covering that has overall been happening since mid-December that should add to the upward trend. The next short interest report is for the 1 March.






Bullboard Posts