There is absolutely no doubt that you are right. If there is a reasonable increase in the price there is no doubt that they will conduct a reasonably orderly exit to extract their profit and the SP will suffer. What I was saying is normally they are heavy shorters and you will see an orderly reduction in the price until they are ready to buy and exit. For some reason this time they telegraphed their intention to hold for a term. If you want my thoughts on what might transpire I would say they are expecting enough good news in the annual to help a bit of a pump and then you will see the dump. Short term traders could go along for the ride if they see the same scenario. I am no fan of Regal unless you are invested in one of their better funds.
ST1 Price at posting:
4.2¢ Sentiment: None Disclosure: Held
