RE:RE:IMHO the shorting pressure has peaked.I am surprised that the Life Sciences report didnt include the OTC shorts, specifically because its been 5-6X the TSX short position for the last while.
The latest available OTC short data that I have access to is here, approx 37.4mm shares :
https://www.otcmarkets.com/stock/PFSCF/short-sales
hard to say what happened with the most recent bounce in Aug. I will see if I can get an udpated number thru an institutional trader buddy.
The hedgies have shown a history of leaning on the stock at opportune times, and "protecting" important technical areas. THis $1.45-$1.60 area was previously a very important area of support. Look at a 3 or 5 year chart and you will see how many times the stock bounced off this area.
AND now with this most recent bounce, you have the 10 day moving average ( upsloping $1.47 ) and the 50 day moving average ( downsloping $1.50 ) converging on the 90 day chart.....so its not surprising to see large / intimidating offers being thrown up to protect this area in an effort to prevent a break above the 50 day MAV... ( which if successful would be a buy signal ) to the 200 day MAV at $2.04... if unsuccesful, would suggest a move back towards the recent low.
TEXTBOOK stuff by these guys. The wrinkle is the increasing certainty of positive catalysts in the near term.... which will likely bring in natural buying and likely induce some reduction of short positions. A full blown buy signal is a sustained move above the 200 day MAV