MX Gold Corp V.MXL.H

Fresh shorts means higher prices soon imo

[Blacknite4]

I agree with miningman. I think these 1,292,000 shorts are likely speculators who are notoriously wrong as they jump in and buy at the tops and sell at the bottoms, (or buy shorts expecting lower prices short term) and they were placed sometime between Sept 30 and Oct 15. If you look at MXL's price chart you will notice the big drop was down to 20 cents on the 4 th of Oct it was likely at this point or after that the majority of these shorts were purchased effectively after the big move down so I think it is likely any 1 or 2 cent move higher at this point will force these shorts to sell there positions (to actually buy back MXL shares to cover), potentially giving MXL 's SP an extra boost.

I would also like to point out that the gold COT report has the excessive longs cut back on their positions and shorts covering giving a green light for the gold price to move higher and imo and just as important the GLD EFT which buys and sells actual gold bullion as the demand for its shares rise or falls goes showed its resiliency by not wanting to sell during the gold down turn which has bullish implications going forward.

In a nut shell I am as optimistic as ever with the GDX and GDXJ staying above the 200 day moving average and appeearing to not want to move down and other positive stuff I see, I believe higher prices can be expected soon.
 

Security Description/Comments

Jun.06.2016 - Name / Symbol / CUSIP Change - DVN to MXL

Short Summary
Short Volume	As Of
1,292,798	15/Oct/2016
205,400	30/Sep/2016
102,000	15/Sep/2016

Trading History
	This Week	This Month	This Year	Last Year
High:	0.190	0.250	0.385	--
Low:	0.145	0.145	0.145	--
Close:	0.165	0.165	0.165	--

All Time Records
High:	0.385	15/Aug/2016	Volume:	10,731,811	13/Jun/2016
Low:	0.145	18/Oct/2016	Value:	2,935,636.97	13/Jun/2016
			# Trades:	922	13/Jun/2016

Security History
Symbol	Security Name	Market	Status	Symbol Expiry
MXL	MX Gold Corp.	TSX Venture	TRADING	--

*Historical Data