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Sorted at last
This will fly as those who borrowed stock need to buy back to replace that which they sold
I dont think so, my guess its the shorts playing around..stock on loan was 2.47% at end of October so there at it.
Will be interesting to see if there are any changes in Nov when the month end data comes in
One can only thinK that OfGem has received some complaint after their last provisional announcement.
Was just going to say...back up over £7 and long may it stay!
No worries mate..the good news is we are cantering back up nicely
I've always intepreted the term "selling off" as reducing one's position not increasing it and therein lay my confusion with your original statement. However, I accept that in the context of shorters that it can be interpreted as increasing their position; it's just not the term I would have used.
?"Jupiter Fund via their short or those that had borrowed stock selling off"
When they borrow more stock to sell off , they increase their short? I do not mention closing out or reducing said short position?
The reference to "selling off" (as if they were disposing of their positions in response to yesterday's rise) is, in this context is, I would suggest, confusing. If you'd said that they were increasing their short position (which I now take that you are implying) then the statement would, I suggest, make more sense. Anyway, therein lies my confusion with your statement.
I beg to differ:
"... I think its more likely Jupiter Fund via their short or those that had borrowed stock selling off in response to the large 4.7% rise yesterday ..."
Trot I clearly state selling (i.e increases a short position or reducing a long position) and nowhere do I mention Jupiter closing out or reducing?
I don't follow your logic. If Jupiter Fund was trying to close out its short, as you seem to be suggesting, then they'd be buying not selling. A share price fall would be more indicative of shorters doubling down.
Thats my approach. Hold through the noise and pain
Otherwise you are selling or buying based completely on speculate. On the chance there is a negative leak you get lucky, but more often than not its market shenanigans and after a time it will stabilise again
Understand your point..and agree. If it is just institutional trading (which you make a good case for) then I dont really give a f!?k either way.
>I just find it difficult to believe that a 10% drop has come without any fundamental change to the company
Then you must understand most stocks, if not all, are in the hands of the institutional investors
The question is this. If an institution wants to reduce its stake and get the best price you would sell as a VWAP order (worked over days) or in the post market auction - in tranches on a daily basis if necessary dependent on volume (especially on days like yesterday when its well up)
Hence my logic is, and given the increase in todays volume and timings as I mentioned in my last post, this is /are institution/s selling with the sole intention of reducing the price. There are no fundamental change to the company or news leak (note there was no rumor of a good news leak yesterday at +4.7%???)
Hi Mark, if there is no real news that comes out today, I would expect (or hope!) that this recovers at least 5-6% across the day, maybe finishing up around £7. I just find it difficult to believe that a 10% drop has come without any fundamental change to the company, but i'm hoping that im wrong
I think its more likely Jupiter Fund via their short or those that had borrowed stock selling off in response to the large 4.7% rise yesterday. The timing fits pre half year results on 25/11 where I hope they finalise the OFGEM matter
Having said that I do hope this will push up intra day as 8% is ridiculous. It all depends how much stock they are holding and it could be co-ordinated
yes, there has to be some reason why has happened. If it is a leak, then this is shocking behaviour given that no news has been released and the market has been open for almost 1.5 hours
Perhaps they have just got the oFgem ruling today. The regulators are notoriously leaky and this may already be in the market while the company gears itself up to put into the market. Now ca 250k.
Not a good start to my day. I’m in AVON as well, don’t look if you are scared of depths.
Well something is happening or is thought to be happening nearly 200k moved on a 3 month average of 112k by ca 9.00
No idea. My first thought was that OFGEM had refused the settlement offered, but there is literally no news out there. Volume is relatively high at 170k shares already traded in the first hour, its very strange
ANy idea what is behind the drop this morning?
What is going on? Still no communication about the state of play with OfGem. Surely, surely this nightmare is going to end…. Or is it?
Understand..my brains nots working right at the moment (4 days into COVID - for a second time!)....need to reread those Rns next week me thinks
Thanks Novice
Hi Mark - no, what I mean is that they have lent out the shares to another firm (who is the borrower in this case). They still technically retain ownership and are entitled to the dividends. The borrower may (and I say may) have sold them onto the open market to try and benefit from a drop in price. All conjecture of course