General Discussion Banter GLN, page-9123

Yes. Our friends at Morgan Stanley still have their reasonably large short position (small in the scheme of things but relatively large compared to the daily volume). As bombers said not much has changed over the couple of weeks - the largest short days were the 26/9 and 3/10 but only 11.15% and 4.36% of trade respectively on those days (so not a lot). There is currently 2.3m in short open interest (as of 17/10) and as you can see nothing much got added on the 18th and 19th in terms of "Daily Shorts".

Note: In the table below Daily Shorts or "DS" is the 1st 4 columns of data and Open Interest or "OI" is shown in the following 4 columns. "Pos" is where we sit in relation to all ASX listed companies (i.e. we are currently the 266th most shorted stock on the ASX - which is minor in the scheme of things i.e. Morgan Stanley are out on a limb here... by themselves - what's that sound... I thought I heard something crack).


Here is the weekly data for Morgan Stanley. As you can see a lot of selling at the end of July and start of August holding the number 1 and 2 selling position over 3 weeks running. With another selling spree on the week of the 26/9. Their average sell price is just over $1.25 over this whole period since the start of this report. However, because the majority of their short position was placed in early August I think the average price of their short position is closer to $1.28 or $1.29, so right on breakeven as we went into the trading halt.


If we have some solid positive movement in the share price next week, sustained over a number of days and moving above $1.50, then I expect some short covering to add fuel to the fire (I saw them do a little covering when we went up to $1.50 in mid September so no reason we wouldn't expect the same to happen again). Of course people always say this stuff on HC and they are almost always wrong... so lets see what happens next week. I don't buy that these are a hedge either... just based on the timing and how they were applied, plus the data tells me they are net short.

ALL IMO DYOR