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Clueless,
Are you suggesting a physical short has been closed and a financial long position also closed?
BTW weren't all these trades executed by UBS compliance?
We previously believed to establish there was in fact liquidity?
That's what I always believed too clueless, was saying exactly what you said only yesterday to someone else, as it seemed to make total sense, but why then do they list it the other way round on AA 8.5's and seemingly Highland gold too? And why do we not see these closing shorts being opened to start with?
Not trying to de-ramp far from it and hopefully I am missing something here, but it'd be nice to know for 100% what these forms mean even if they don't make much difference to the outcome here, just for future reference!
Example from AA 8.5
0.1p ordinary SALE 54,615
Reducing Short Position 35,770
Reducing Short Position 1,722
Reducing Short Position 17,123
Example from Highland Gold
0.1p ordinary PURCHASE 421,000
Increasing Short Position 250,000
Increasing Short Position 120,000
Ferg, a short hasn't been opened.
A purchase has been made alongside a cash-settled derivative transactions, when you close a short you buy the shares, hence the purchase, meaning you've settled the derivative transaction (in this case a CFD) short, hence the short being closed.
I'm pretty sure we will see a re-release of that RNS to correct a typo.
Don't shoot the messenger guys but I am starting to think the "buy" shorts we see are in fact shorts being opened not closed.
Looking at AA who are in a takeover too, every 8.5 with a short opening is listed as a "purchase" not sell... and ones closing/reducing a short are listed as "sell"... they actually bother to write "short opening" or "short closing" on their forms not just "short" which makes it a lot easier to understand!
Don't take this as gospel, maybe UBS use a different standard or something who knows... just it would explain why we've never seen these shorts open to begin with if they are being closed, hard to believe they were opened months ago before UBS got involved with the FSP but then who knows.
On the flip side I don't remember seeing a "sell" short 8.5 here so if they are opening shorts and keeping them open then ...well I was going to say best of luck to them but what I mean is I hope they get royally Jubbed!
Opening/closing it makes no real difference to us anyway, does it?
Indeed, there are worse problems to have in life and 2 of them are certain. (Thinking after a well known poster and their family).
Definition of luck - preparation meets opportunity and for those that will face CGT issues, breaching lifetime allowance on pensions, take advice of a suitably qualified IFA as VCT's and EIS could be an answer.
GLA
Guitarman, this will sound like I am being down on you but it's more just being honest.
You choose to pay a lot to buy in much later in the story so with less risk to your investment. I choose to pay a little early on but with much greater risk to my investment (140 quid, literally all I could afford at the time lol, damn CFD trading that went wrong (my fault)).
And luck had nothing to do with it dude. I'm not a lucky person but I can do my research (or at least validate other peoples better research tehe) and am blessed/cursed with very high risk tolerance.
Basically due to liking physics I did some looking at Pd itself as an element which led to me making a sweet CFD trade before gold shafted me and my confidence with CFDs but a by product was I learnt about the structural physical supply deficit , difficulty of mining Pd (denser than iron but higher on the periodic table...whattt) combined with a looming increase in demand. So I threw what little I could afford at EUA at the time, while still thinking of averaging down on SXX no less. Thank god I did not...
So at this point I would not bat an eyellid at daily price fluctuations as that is not the game being played here but I understand that does not come easily for everyone, especially those who came later in the game.
So basically. I take umbridge with the luck part of your comment cos brah. I did my work for this holding even if I foolishly prioritised a low average over more shares. Lesson learnt for when you really think it is nailed on. Get in early and get in to at least a 1000 pound profit (and loss) per tenth of a penny change as it derisks if you did not from the get go. Almost did that with UFO but it kinda took off on me lol. And use an ISA! (message for anyone investing and get a "flexible" one)
Been years since I had to pay tax, got a feeling that in a few weeks time I'm going to have to pay some CGT lol but amma play the game and use SXX losses against it :)
Anyway, all the best and hopefully some time next year we can all have a proper knees up with some live music.
DarkEnergy which bit do you specifically think is a typo, the date? They always release them a day after just check any 8.5 from September. Or do you mean the price? Or something else?
I find it strange that anyone would want to short a stock to make 20 / 30% with the potential to be 100's% down ? risk reward is just ridiculous ?
Talk about put your head in the Lions mouth !
musso
makes me think it's a typo
Most 8.5s are exposure-neutral either a physical buy and a financial sell or the other way around
It would be nice just to settle a few of the recent new EUA investors nerves. It’s not nice seeing red on your investment but it’s always been about the final sale If I remember correctly it started to rise around 2pm with a decent close so set the alarm for it.
well a million plus shares bought by a shorter who was able to extricate him/herself without a scratch because of weak knee wobblers in the ranks! The shorter in question thanks you for your money and told me to ask you if you had any more for his mates lmao
Musso74 - lets hope history repeats itself and a morale boost for some with twitchy bums.
Personally I appreciate we’re still well up from the 17p we were hovering around a few weeks ago.
Bloody 8.5s and PMEs are the bane of any market watcher. Just got back to my computer and my heart skipped a beat or two thanks to the red dot....
Shezer, I've only got 14k shares, that person paid a helluva lot for 50 odd thousand shares in my book given my average is 0.982.
Guitarman if it’s one of their clients closing or opening a short on the company the acting for in a sale then yes regardless of size
guitarman as UBS are involved in our FSP if a client of UBS buys/sells/shorts they have to notify as it could be seen as a conflict of interests otherwise. At least that's the take most people share on it. So yes a 1k trade or less would still be announced, as we've seen before.
Crabby if you check the closing of a short RNS on the 30th September then look what the share price did the following days you are quite correct.
They missed "plc" from the company name in title too... they feel like I do this morning no doubt... sleep deprived!
Is it 50k or 500k, hopefully they'll update, seems easier to miss the 8 out than to accidentally add an 8 in to me so I imagine its 500k too.
Guitarman they did that just last month. They have to announce every trade they are involved in
Read it again and you will see the first figure is different to the second one
I just about had a heart attack when I saw the red dot appear. Another short closed at a good price. Good news.
Eurasia will have more red dots than Dexter's apron at this rate!
guitarman
"500k short closed"
where?
i think that rns will get corrected!
As long as they put the right number of Zero's on the BIG ONE ill live with it :)
If they opened it at 37p I’d say they’ve played it well this time but agree you’d have to be nuts to short it.
I see it as a good sign the shorts are now closing as they realise we are only going up from here