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Allied Nevada Gold ┼×irket Message Board

  • billysundance billysundance Jul 25, 2013 12:53 PM Flag

    Short Interest

    Per the numbers out yesterday, there were 8.43m shares sold short as of 7/15. That is up from 4.9m shares on 6/28. That's about 3.5m shares that were sold short between $5.50-6.50!! Not much of a strategy to short after a 80% decline but there's two sides to every trade I suppose. I think those longs that can stomach the near term volatility will be well rewarded.

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    • Seems like shorts are just a bit too greedy in this space. I see some analysts coming out now saying that the miners are overvalued. Where were they 40%, 50% or even 60% ago?? Shorting here may still be profitable but the risk appears to be to the upside at this point.

      Barring a complete collapse in the gold price I still think ANV can get back to $10 by September. We shall see.