there is no significant shorting of this share. The concentration of ownership would make it extremely dangerous as you could very easily be squeezed. The problem here is that Bkir is valued at a premium to TBV, 1.3x, many banks are at substantial discounts, DB 66% of TBV for ex & the Greeks. So if banks are down it has to fall or the valuation gap widens.
Shorting is selling before you buy. You do this by borrowing the stock, paying a feee and then selling in the hope of buying back later when its cheaper. naked short is where you dont borrow the stock. Naked shorting is against the rules but covered shorting isnt. Sometimes bans on covered shorting are implemented but only for a short periods generally.
Sorry R, I didn't mean to use the phrase shorting but as per a previous poster it is my opinion that this stock is subject to manipulation by the big guns. I agree with PmcG's comments. I'm sticking with the stock as if u have patience and conviction I see super normal gains but only in time. My time frame in 48months from now when I'll be pulling the pin. GLA
I have to agree with you, some clown here recently said it was a good example of 'selling the news'! I believe this driving down will continue at every opportunity, to reduce the SP until whenever old Noonan decides to sell the remaining Gov. holdings and whoever this is picks up that stock at a bargain. On the positive side, I believe it will go mad then ;-}
Hi Hotdog. How does shorting work exactly. I have an idea I think but not 100% sure.
For example If I buy 20 million shares over three weeks @ 2 cent, my cost is 400k. Now if I wait until they go up in value to say 3 cent and sell 19 million shares @3 cent I am up to 570k. I then offer the shares I have remaining onto the market and sell them at decending prices back down to 2 cents to devalue the share price.
On the 10th October 2014, I posted that "I think this will be our last opportunity to top up below 30 cent". SP this morning at 30c so hope it will not drop further. Ramerci's last post echoes my feeling about the effect of good news on BKIR price. However despite whatever manipulations are taking place I believe that the good results cannot be ignored much longer and that we will see a substantial rise soon, possibly after the 3rd quarter interim statement. Howth
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