Hi Cadel, this is probably a question everyone would like to know a definitive answer to, but also one we will most likely never know without having insider knowledge from every investment bank's/hedge funds data gathering information net. Might I add, it is also an excellent question. My take, is a lot has to do with their own scope and investment plan, some funds might be speculating an entry point, whilst others might not even have it on their radar. To my knowledge, many large funds are governed by policies as to when and when they cannot buy an asset, for some and using very layman examples, they can buy in once a stock reaches a new 52-week high. Or crosses the the mid-point in a bullish manner, or entry into a major benchmark index like you mentioned.
Similarly, some might just be waiting for what they consider the ideal opportunity and time. @ProCapitalism "chart" post is just one example of TA (Ichimoku fundamentals), a fund will be using many additional factors, and his analysis does show there is plenty of head room, for GXY's SP to move before we are considered bearish or should worry for that matter. You never know there might just be a fund or automotive company lurking, wanting to secure long term supply once they crunch their numbers or certain market factors generate a more ideal signal, and trigger for their needs. (This is something any funds going short will be very wary of)
Finally, I will say this very loosely so as not to be labelled touting "conspiracy" theories by some here. There could be an aspect of "honor among thieves" at play here, most funds would more or less step out of the way to avoid a confrontation either now, or somewhere down the line with other coordinated attempts at manipulation of SP be that in GXY or other assets. All IMO, and it makes for an endless interesting discussion.
GXY Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
