Blackrock (NA) closed to .76% (not .81%) so yesterdays closure was .23% (1.05 million shares bought). If this bear squeeze takes off, it will be interesting to see how quickly they close out. Closing at the rate of .23% per day, it would take 17 days to close all the declared shorts. The SP has risen 1.25p in the last two days , so at the same rate of increase, the price would rise 8.5p during the 17 days when closures were going through the market, taking the SP to 24.75p through closures alone. Word of caution, you can do anything with statistics !!!!!!!!!
More shorts closed friday
Blackrock Investment (UK) closed from 1.91% to 1.81% and Blackrock (NA) closed from .89% to .81% , Blackrock have closed .18% (825,000 shares bought) on 2 consequtive days now but there are an awful lot more to buy. Blackrock Investment(UK) 1.81%,Blackrock (NA) .81% (and potentially some of Blackrock Advisors .47% left from their 16/10/2014 closure) 3.09% represents 14.16 million for Blackrock and .98% from Ennismore represents another 4.49 million for them to buy. We do not know how many they may have swimming in their dark pools,( not yet declared), but having to buy 18.65 million is going to move the SP a fair bit higher when it happens. You can feel the bear squeeze tightening. Roll on Monday
Understanding the market.......
which we don't on this one or any other for that matter...........but I usually play it so on average normal or unremarkable weeks the sp will fall slightly on a Friday as short term traders clear ut so as not to be exposed over week end. But this one loaded up with shorts the clearing out means reducing exposure which in IQE case means closing out some of the shorts .........ie buying the market on a Friday so sp actually rises slightly..........like today !! Just chewing the cud.
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you will see pigs fly before this gets to 35p
Nice to see broker today restating their 35p target.
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