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A question on BHP – is there any where I can find out if many have shorted the stock?
Also, I have some BHP shares and would like to add some more at these levels. Should I follow the stock down, or wait for it to start going up and then start buying?
A: Thanks for the question.
You can view ASIC short sales reports here.
The reports are based on “trade date” – so today’s report (2 December) is still only as at close of business on 25 November.
With BHP, the recorded short sales are (so far) fairly negligible – about 0.4% of the stock outstanding. If you see BHP as a core stock for your portfolio long term, then I would be buying in weakness. I think we are going to be in for a pretty rough ride on commodity prices – so I wouldn’t be in a super hurry – however you would probably say that the last 2 days was a touch overdone.
Hope this helps.
