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Hi Destitute,
I was trying to see if ODEY had a pattern to when they reduced the shorts, over the last 3 months it has been pretty much once a month around the same point each month give or take a day. I am wondering if it will happen again mid-August.
ODEY pulled the plug on;
15th July at roughly 47p
15th June at 64p
14th June at 64p
1st June at 56p
17th May at 54p
They opened a further short on 20th April at around 46p, 22nd March around 53p etc
I am just looking for a pattern and wondering if they are choosing to reduce at these points or being forced to.
If you look at short tracker for Tullow, you can see a recent pattern for ODEY on their reductions of shorts...
https://shorttracker.co.uk/company/GB0001500809/
17th May Monday
1st June anomaly
14th June
15th June
15th July
Expect ODEY to perhaps close some more in the middle of August , probably Monday the 16th. I am presuming these might be the calls on the shares they have borrowed.
Any thoughts?
I will go a good RNS and some positive news flow from AGM and the share price to struggle or fall to 62p as Tullow has random share prices. Plus whatever I think or say it usually goes in the opposite direction so heres hoping.
Cheers Stuart
So basically its hedge funds using algos to sell shares and get the best price so not to reduce the price when selling. I guess the same would be said for buys then.
Obvious that its GS and the shorts doing this as pretty much normal PIs wouldn't have the ability to probably do this.
No doubt they will try to price this down on this news by trying to make out she was the bees knees and the small dip in oil price from yesterday.
I expect to open up slightly down. Around low 55s or high 54s
Dotty has gone. Any thoughts about how this may impact share price?
Some where of the view she should have gone ages ago, and it will be an improvement. After all she was part of the poor showing.
Some will think she made the ship steady.
Views anyone
Still a barage of sells going through and the share price has steadily increased most of the day.
Surely shorts closing based on the OPEC meeting today and increase in oil plus futures. If oil is expected to hit $80 soon then they need to get out.
Must be GS selling at a profit and allowing the shorters out. The price certainly hasn't risen just due to the increase in oil price.
Isn't it obvious? The price is clearly being manipulated by the mm's to enable short positions to close. Have a look at the trades in the past hour. A sea of small sells by someone to reduce the price then a few minutes later a sea of buys in larger quantities all at the same price and time.
Shorts have closed around 2.5% in the past two weeks or roughly 35million shares. That a lot of work.
I would assume GS have been selling and the shorter buying these shares.
Thoughts?