GCM | Number of shorts dramatically down Dear all,
Compared with June 21, the number of open short positions on CCM fell down by 88% from 3,944,454 to only 458,889 shares shorted on June 30. This looks like bottom building in GCM...
Actually, I see a potential low at the lower Bollinger Band on the weekly GCM chart at ~4.76 CAD. Normally, each down cycle touches the BB - buth the recent one since January still has not...
Only if Gold goes crazy again - and there is still (only 10-25% chance) a "flash-crash + clean-out + quick recovery + new highs" event possible, taking Gold down to ~1370 and quickly back to current levels and then up to new ATH - I see a low opportunity to catch some more GCM shares again at a super-discounted price like in March last year.
So I am staying constantly invested and buying the dips from time to time.
| Symbol | Issue Name | Shares | Net Change | Date |
| $GCM.TO | GRAN COLOMBIA GOLD CORP. | 458,889 | -3,485,565 | 30 Jun 2021 |
| $GCM.TO | GRAN COLOMBIA GOLD CORP. | 3,944,454 | 826,783 | 21 Jun 2021 |