Of course, that was far from normal.And yes I agree, that's a...

Of course, that was far from normal.

And yes I agree, that's a fair summary of how it was executed, without going into V-WAP execution and so on.

That said the auction, and gives a few interesting tells. There was 33m shares of bid that did not get filled, with ~8m of the ones that were left on at $9.6 and above, yes i know this is inflated (layered up number, that'll be reduced come Monday), that said it does show that the shorts may have been over-extended and some did not manage to close out their positions, without the supply side being fed into the market by insto's from the GDXJ stockpile, next week could be quite kind to us, as the catalyst for the short side is gone.