I also am short via IG markets and couldn't short yesterday but you can short directly through some brokers UBS and MS if you have a large enough accounts. I find its actually cheaper to short via CFDs. Having no stock to short can mean a few things - it can also be a contrarian indicator that this is a crowded trade on the short side and the stock is due for a bounce. But th price action definitely suggests its going lower - each mini rebound is seeing a lower low so this thing wants to test a buck.
I got short when it broke above $1.15 and seemed to stagger for a bit at $1.42 on the way up - so I started shorting in the high 1.30s and averaged up all the way to $1.90 with an overall average around $1.65. These were all temporary support points on the way down and the next one is around the $1.02 level.
My position was large because I used it as currency against large MS longs and yesterday my longs got hammered. Overall, I think the sector is undervalued and priced for a China hard landing but this one is definitely the exception and if the price signals from other MS stocks are accurate this isn't worth more than 50c.
FGE Price at posting:
$1.11 Sentiment: Sell Disclosure: Held
