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Ferret
"Another player been building a short position (as i did offer as a possible explanation for todays 'strange' early trade action).
TT International Asset Management now discloses a short position of 0.54% in excess of 0.5% holding. So that now takes total short position (in excess of 0.5%) to 9.28%
Seems they are aligning up ready in advance of RI and dilution - we might expect this to increase further in coming week - one to watch IMO"
You need to check the dates of short positions before making assumptions . The new short player actually built their position on 2 July (on a day the SP went up) and according to todays shortracker Connner clark et al reduced their position on Friday (to 0.48%) - it was them attacking the SP to close cheaper . It was probably not an alighnment on an expected RI as you suggested.
This article may have rattled the sp also.
Additionally and mentioned in the same article Saudi may consider a price war if Angola, Iraq and Nigeria don't tow the line.
An interesting week ahead ! 'OPEC+' fruit machine installed in the 'Arms replacing the Noel Edmonds and Mr. Blobby machine. Win a pair of Farah trousers and a Toblerone mobile phone.
https://www.rt.com/business/493680-russia-opec-ease-oil-cuts/
TT International, Hong Kong based. Probally in league with the other Hong Kong based trash ARCM. They have committed not to short so they have likely got someone else to do it. I just hope that there is some truth to the Apache rumour, enough to give these companies some pain. The only answer to the rapid sp. drop has to be shorting,but someone else is on the other end of the trade unless we have a slight overhang.
Another player been building a short position (as i did offer as a possible explanation for todays 'strange' early trade action).
TT International Asset Management now discloses a short position of 0.54% in excess of 0.5% holding. So that now takes total short position (in excess of 0.5%) to 9.28%
Seems they are aligning up ready in advance of RI and dilution - we might expect this to increase further in coming week - one to watch IMO
Have a good weekend - next week will be another interesting week for PMO