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Dacorum, don't worry about me. Whatever I have put is spare cash so not a problem. I am looking for 4x returns here so not going anywhere with up or down.
The reduction of shorts is always a good thing. However, it would be great to see another institution follow suit and do the same. If that happens then we might start to see the short squeeze we've been hoping for.
Valid point Johnht about freeing up capital, that could be a position they are taking. However, my gut is telling me that they are covering the possibility of better than expected poor results. My hope is that the other short positions do the same! Good luck with your position sir, although I hope you're wrong on this occasion!
Broker1, a good point. The positions are partially based on what other shorters do, but that's one part of the jigsaw. I base my movements on how the portfolio is balanced. I made a profit today with my longs and shorts covering for the ones that lost. For now, this week the short continues, I've changed some positions today before close but CINE is still open - I have to factor in what Boris says tomorrow and then reassess.
@PrayFor, shamus has been very positive to me.
Good luck both.
Johnnygadar be careful what you wish for on Thursday as US ticket sales are very weak and are not offsetting low UK ticket sales. UK markets have also just turned volatile again what with all the uncertainty.
@jht.... with respect and perhaps another view it is the start of shorters now closing their positions as a rise in the SP could be coming...
Hugely positive.
As some wiser investors have said, SP may be lowered to let shorters exit with dignity before results day.
Worries that amc dropped quite a chunk today.
I expect 40p tomorrow to be honest, but hopefully thats the lowest we will see before results day. Fingers crossed for you all.
P.s ignore shamus, he is still sore from his losses.
If I was them I would be freeing up some of my capital from todays short on CINE and a few other stocks. This is would be in anticipation of the SP going even lower so as to buy long tomorrow in a stock other than CINE i.e. something that would recover better.
Thinking maybe Millenium have been buying up some of the shares being sold off cheaply:
Millennium International Management LP CINEWORLD GROUP GB00B15FWH70 0.00 18/09/2020
Millennium International Management LP CINEWORLD GROUP GB00B15FWH70 0.50 16/09/2020
Yes meant short position on the Cineworld stock...:-)
Woo Millennium has completely closed their short. Are they afraid of the results?