Member Info for Monkshood

They knew it was coming, hence the director buys by Mrs V the other week. Just not enough to turn the tide. I am down quite a bit on this but keep topping up as it will turn.

£4.80 by the end of the month

Quiet on here today given how well things are going today. We are reaching the point where they must be thinking can we afford to short, or can we afford not to short. It has got to the point where the shorts are absorbed quite quickly are and the price returning to a level above that they shorted at. On the other hand if they stop and it rises enough to stay in the 250 they will have no tracker sells to buy into.

Another that is now destined for exit from the 250. It was well out of the risk zone before this so there will be a rapid reappraisal now. On the bright side (for this thread) it moves metro up the pecking order...

From the BoE 'The PRA welcomes the steps taken on Friday 17 May 2019 by Metro Bank. Metro Bank is profitable and continues to have adequate capital and liquidity to serve its current customer base. It has raised additional capital in order to fund future growth.'
It may have had some issues is certainly not going bust!

That is one of the worst (the worst?) short attempts there has been on here in the past month!

Trying to take the momentum out of yesterdays rise? It seems quite lively today with some good buys going in as well.
Would shorting it on the last few days before index rebalancing be classed as 'market manipulation' Hard to argue it is not when they have pushed it down every time it shows any movement up beyond about 280. I wondered if they can legally carry on up until Tuesday, likewise are director buys allowed a day or so before?

The fact that this is going in the opposite direction to other uk financial stocks today indicates that it is not (entirely) Brexit sentiment driving the share price down.

Chris, yes, I do think her purchase was an attempt to see if they could turn the price around. Whether this is the entirety of their fire power or they plan more will be interesting to see . I cannot imagine that the company will be very happy to be demoted. If I was in their position and had the money/influence it would be very tempting to try to burn the shorters….I assume the shorters are relying on buying up the shares that the trackers are selling to avoid ramping the price too quickly. If it does not go out the 250 then things will get very interesting.
What I have not been able to discover is what % of this (or any companies) shares are held/affected by trackers. Assumedly some of the larger investment companies must just move them from, say, a 250/350 tracker to a small cap tracker or a special situations fund rather than selling, but clearly there is still a large volume of selling/buying with the index changes. It would be interesting to know if sells from trackers were potentially likely to be less than the 10% of shorts held.

Porker, I agree they will bounce but it does not negate the short term pressure as investors take positions to take into account the index changes. I was in SAGA at the end of the last rebalance and it was a similar story with many not understanding why it was being sold off so strongly (it bounced after). In converse I had a small position in OXIG when it was moved off the reserve list into the 250 mid quarter -absolute massive short term buying. I have some positions in others around the boundaries and it is easy to see how their share prices are distorted. Arguably, if you are prepared to hold for >3months then this is a great opportunity to buy metro.

A downward pressure that is not really related to whether it is 'sensible' I think it is a negative effect of the amount of money now in 'unthinking' trackers. If the price then rises over the next quarter to approx 400-410 (which is very likely)it will be automatically reinstated to the 250, as a consequence all of the trackers will have to buy in again. So the shorts gain and the trackers loose.

It is when the iFTSE Russel announce which companies are going in (or possibly in this case) out of one of the lists. The changes are then implanted at the end of the month. If metro goes out of the 250 (to small cap) lots of trackers will have to sell, it is why I think that they are keeping the short pressure on.

They do seem to be finding it harder to keep a lid on it now. The margins for them to make money from further price falls are also reducing altering the balance of risk/reward . Next week will be interesting as volumes could pick up with the holiday season ending and the run up to the 4th

I have flagged the possibility that they could get relegated from the 250 to the company secretary, I got a very nice and quick reply saying that the message will be passed on up. Hopefully a few director buys at the end of the month!

Ok, the short changea are on this BB! Would think that the FCA would release info at least at the same time as they are the reporting authority. No shorts have closed even with the drop yesterday so I am sure this is all about either hedging against, or forcing a drop out of the FTSE250. Providing the price keeps above 315 then it should stay up (by my calculations..) if it sits around 400 towards the ned of the month then I think they will close.

Where did you see this ? Yesterdays are not on short tracker or the FCA site yet and they did not on the 30th

It happened with SAGA in June. I timed that one a bit better though....

I will be more confident once it gets nearer to 400, yesterday it was skirting around a level that would see it out of the FTSE 250 at next months rebalancing. It then gets sold by the trackers irrespective of whether it is good value or not. I have wondered if that is what some of the shorts are about.

The problem with an Mcap of 600 is that it could get moved out of the FTSE250 at the next rebalancing. I did not think that it would get this low but I now wonder if it is what the shorters have in mind as it will get the trackers to do their work. I think it will come good in the end but I may be holding for longer than I originally intended.

NEX currently use drive cam in their coaches 'All of our UK vehicles are fitted with DriveCam and speed monitoring technology's ' is there an overlap with their application and SEE's at all?