In a few days we'll see how that # matches up with the numbers I get from stockwatch...it represents a signficant jump obviously. Of course its still barely over 1% of the outstanding share count, but imo it would go a long way toward explaining the increased trading of late. We've now had 17 consecutive trading days with volume over 100K by my count.
https://shortdata.ca/?c=resverlogix-corp.-short-sales&sym=RVX.TO
I see ony two possibities, and both were covered in the post I just did on short selling and delivery failures.
- Short sellers are confident of bad news
- The short selling is an effort to shake the tree, looking to cover at a profit and adding to a long position
If its #2 and we get good news on the SSRA (or any other postive news for that matter) then I see definite potential for those behind the short selling to be facing a squeeze type situation. That would mean the choices would be to cover at a loss, or commit more money to margin accounts to prevent forced covering.
If its #1...and we get hit with bad news, then look out below imo.