In my opinion, there were not enough shorts to matter much. So the buying power from them is miniscule.
This buying isn't coming from the long suffering long term share holders. We are all tapped out. I came close to adding when we closed strongly in the mid-90's. I have enough so I held off. It has been a hard few days wanting to buy this rise because I am convinced this move is the real one. I am still agonizing but will be a spectator now. I buy and hold because I do not trade well.
So, if it is not the shorts covering or the long suffering longs, who is buying? Obiously, it isn't the unconvinced nay-sayers. How about new investors? Where are they coming from? How about employees of the 40 odd companies testing ZEN graphite? Perhaps the latest articles touting the deal with Lariplast have opened eyes. Where ever they are coming from, they are welcome. I'm sure the rising price will encourage others to hold. The higher the price goes the easier that gets. If we see higher volumes continue with a rising price, I'd bet on this continuing. It is like that snowball rolling downhill. It gathers momentum and rolls over whomever gets in its path.
The three year slide is behind us. Yes, I found it very painful but I believed the story because of the facts. During this time, not one peice of bad news ( except the share price). Every news release was backed by very competent people doing scientific tests that declared the graphite a one of a kind very valuable material. And some of you think you are smarter than them?
The jury is still out as far as I am concerned, but someone in there is leaking news!
