RE:ShortsHi Beachbum,
I am not certain if you are aware, but the TSX is not the only trading platform where PYR shares are traded in Canada. There are a few ATS (Alternative Trading Systems) where brokerage house can buy and sell (even short) PYR shares.
In fact, ATS platforms are the preferred trading place of active traders, (they often receive payment for the platforms to generate volume on the platform).
That is why IIROC issues twice per month a short report that reconciles all the short trades that were done on all shares listed in Canada.
And, as per that report...
Kongratulation wrote: Salient point from IIroc Report:
- Between the middle and the end of April short investors bet $371,045 bet that PYR shares price was going to go down over the coming weeks
- That represented a short of 631K at an average selling price $0.59
- That position did not work for them...
- As of May 15, it looks like the shorter were forced to cover their position ...
- But they have also re-initiated a new short position at a higher price
- End as a result the short position is now 533,000 shares with an average selling price of $0.705
- The short bet is still around the same $ value of $377,193... that is 15% of the $ value of all shares traded
Take away, some group or investors have placed a big bet on the shares going down, that is a very good sign...
The next move up is going to be explosive.
ALL THOSE SHORTS ARE GOING TO HAVE TO COVER FAST AND FURIOUS STYLE...