Novogen Ltd. (NVGN)

[longsnshorts]

OK. Where are we at?

Nothing has changed since that SP busting announcement of a few weeks ago, but of course an announcement alone doesn't hold up a SP these days.

Of course it appears that NVGN has been heavily shorted over the last 2 weeks (confirmation anyone? - shame as it has nothing to do with the value of a company). But the drop has been slowed, and volume is almost negligible, and we are sitting in the low $5.00 range.

For the record, I don't hold NVGN, but holds it's Australian counterpart NRT (which mirrors NVGN anyway).

At the very least surely we are in for a retrace soon.

Apart from another impressive announcement?

NVGN seem short of funds?

No real follow up announcement (apart from the Ingham one), but I guess these things take time.

Anyway just rambling thoughts here

Cheers