870k (not counting Chi-X) in the closing auction, took it back up by a cent. Not quite 124, but got back to 122.5
Lots to think about. My complete guess is that we therefore still have a lot of shorts outstanding. I expected them to be cleared down to 8% by now. We need them to come down to about 6%. Based on the little info we can see it looks like they are clearing about 1m per day, which would mean they are still about 20m too high.
Definitely time to roll out the announcements.
The question is, if it isn't the shorts buying back, and it sure isn't us buying 6m+ a day, who is buying in these quantities. Most of the last two weeks has been non-short selling, with shorts just helping them along. That will pretty much stop from Monday given there is no tax incentive to sell after today. Today I would think it was mainly shorts based on the pattern. So the optimistic view would be that they were setting it up for Monday when they aren't going to have the help of retail canon fodder.
Wouldn't it be amazing if Xi just decided he really likes guys with blond hair and doesn't really want to take over the world anymore, so it's cool if Huawei isn't the world's 5G monopoly provider of secrets to China.
GXY Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
