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Over a 1.1m in buys were filled and disclosed after hours. A nice 503,680 buy at 33.5p - explains why the SP was held a little today. I would imagine a fair chunk of the 1.1m buys were some shorts covering. Next week is tee’d up nicely - enjoy the weekend and Xmas with your family and loved ones guys and girls.
No the theory is that when you get the spike from 22p on 19th to 37/38p on 20th you add to the short to get the price down and take out the traders and paper hands. Control the sp in a range whilst they then buy up and exit - will see in todays disclosures as they in theory will be closing out. Problem is timing and next week main offices are generally closed for Xmas and the retail buyers essentially create what is widely known as the “Santa Rally” which runs until 2/3rd Jan
Helikon and Astaris increased their short positions on the 20th Dec - just reading through the declarations. They tried to cap the top end bounce to bro g it down it looks like so they average down what they need to buy to close out. Any other thoughts?
Pop ———-squeaky bums
Is about to go up……..I have a feeling that an announcement on trials is imminent - same thing happened about 12 months ago. I’m gearing up for 5-10p
Gap up at open and we should be looking to clear 37p today……..the funds will need to buy up stock as they are acutely aware of the value of the RNS’ yesterday and is a potential takeover target. The probability of a further contract announcement is also very high!
All the reports last night were of the fact that in the view of the analysts is that this could do very well with the demand of stock so high!