Looking forward to your results as I was thinking of doing the same thing but short of time as my day job is taking over my nights at the moment and need to leave time some time for the wife and the kids.
I am happy to be shown otherwise, but I thought the Shorters plan was to load the buy side with some large orders, make it look like the price is about to take off so others join in on the buy side, then remove their buy orders selling into others buys forcing the price down before buying back at a lower price.
It looked like this is what was going to happen on Friday, there were a couple of 1,000,000 and a couple of 500,000 buy orders. But what didn't happen is that we didn't load up on the buy side. Those buying were happy to take the price offered on the sell side. Possibly more importantly is that those selling sold into at least part of one of the 1,000,000 buy orders and possibly a 500,000 as well.
Assuming the buy orders were from the Shorter, and the Shorter was still confident in their plans to short the stock and drive the price down further, wouldn't they pull their buy orders and let the price fall?
Has last weeks announcement of things looking good got the shorter a little worried? Are they letting their buy orders be filled so they can cover their existing short position rather than build a larger short position?
If these large buy orders weren't from the shorter, then it means that another party has some significant confidence in NMG.
Either way, I'm starting to wonder if the shorter's game is up. I'd love to know how short he is and how much he is going to have to buy to cover his position?
Happy to hear other theories or for others to better explain what is going on. I'm interested in your take on this JGunter99 and what you see from your analysis (particularly if you have an idea of the current short psoition).
On a slightly related issue, we know there needs to be disclosure once a shareholder acquires enough to become a substantial shareholder. However, does any one know if there is any disclosure requirements for holding a substantial short position?
My sentiment is buy and I did increase my position on Friday despite already holding a reasonable % in NMG.
NMG Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)