Seek is another of the stocks in the top 20 most shorted list and that's up by 10.5%. Not as much as OST which has kicked off again with a 15 cent surge to 97 just after midday. Overall, the market is recovering from early mild falls to be down 6. I have more positions than my ideal but AGO and LYC are retracement trades and I'll get out if they lose momentum.
Back to the squeeze theme...I've gone long LNC at 142. I was in and out of this one recently as a hefty buyer was being matched by serious selling. That selling must have been shorting with LNC being one of the stocks that saw an increase in short selling by 2% of shares on issue which makes the stock vulnerable to a rally. It seems to have had a shallow a-b-c correction and to be shaping up for some acceleration. Long at 142 for just over half of my position size with the idea of topping up towards the close. Stop is in the mid 120s.
3.22 The Asx 200 is in rally mode. It has shaken off early weakness and pushed on to a 10 point rise. The weekly chart looks very good.
4.11 The froth settled but the market held on to 2 points of gain. OST was knocked down on the close again but was up 13 to 95 nevertheless. The rest were a touch lower towards the finish.
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