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I don't think history shows any such thing. You need to post your data to support such claims.
One thing that can be verified is that the price continues to rise .... so much for polygon...
In this case. the shorts seem to be just Polygon.
I am still shocked, shocked by their behaviour. What business risks, such as debt ,IRC, Russian, Management, POX etc reasonably explain their increased short? Or is this behaviour just an addictive gamble?
It is times like this that I value RetiredBankers grumpy opinion!
The problem is that shorts usually have a measured reason for their action, as shorting is inherently dangerous, with limited downside in the share price against unlimited upside liability. Thus the shorts have to be pretty confident to take such a risk. They are of course not always right, but history shows that on balance with UK stocks their judgement proves correct.
In view of this I have reduced my holding considerably - just in case.
Shedulike, thats all well and good if there is low trading and you can control the market.
I often refer to years ago I think it was VW. Someone had a large short as the company was in trouble but then there was a takeover and the shorters got badly burnt. Maybe Polygon are playing some sort of each way bet. I am sure there will be a reason and or a rationale to their position.
Hi Rusty don't claim to be an expert on this but some shorts work for the shorter just by the market moving in their favour. The famous 'Big Short' rode the global recession, Soros has just made a massive bet that the dire state of newspapers will hit Mail Group plus he's got the backup of the economy contracting with Brexit. Sometimes a shorter will just start selling the borrowed stock to drive the price down, as long as they buy them back cheaper they pocket the difference. I have no idea why Polygon started building a position against POG just as everything looks to be coming together but the fact that they have borrowed more on Weds and Fri makes me wonder if they're going to start selling the loaned out stock to try and settle in a better position. Looking at the strong buying generally I hope they're going to struggle but if it works for them could be a great opportunity for PI's to top up as when they do eventually close it will be a big buy signal.
Small points, but the share price is pretty much vertical at the moment, the markets are strong, gold is high and POG's production and profit are growing rapidly and finally polygon will eventually have to buy back those shares so an extra 12 million quid buy coming ....
Shedulike, How would Polygon attacking the share as you put it to try and get out of the position send the price down. Surely to close a short you have to "BUY"the shares
Actually showing 3.03% on here now. I wonder if we'll see them attack the SP next week to try and get out of this position? Part of me wouldn't mind the opportunity to get some more around 10-11p, on the other hand it would be great to see Polygon burn as well.
Not sure Kenj but Polygon went to 2.99% on Wednesday so maybe you're right.
Norges Bank seem to have reduced their share holding, but increased their holdings of financial instruments. They are shown as lending out 1.36% of their shares in the second RNS, if I have read it right.
Lent to shorters perhaps?
..... Norges bank have reduced - have they just taken profits on the open market or could it be related to the other institutional increases? Sorry for mentioning Putin..... I'll get my coat.