it would have went to $4.07 today no worries but if you have noticed there has been difficulty tracking the SP, on the 28th (if memory serves me correct) a fund has been shorting GXY. However said fund made a bad call, because since their shorting the price only went up. Running low on ammo and desperate not to lose several million dollars they drew down another 800,000 shares in the hope getting the SP back to below $3.88 so they can close their short position without a loss. Why don't they draw down you say? Well if they draw down anymore (say 1m-5m in shares) they risk becoming a "substantial holder" requiring them by law in notifying ASX/ASIC/Public by way of announcement. When they notify it will become obvious which fund is behind the curtain trying to force the SP down via the controversial method known as "shorting". Funds almost always avoid this because its likely to leave them red faced due to the stigma that comes with it and might even get them in trouble particularly if they are not supposed to be shorting. For example, Imagine catching your mate who you trust, doing something behind your back like trying to shag your mrs while you were out at work.
it's pretty obvious if you ask me whats coming in the next few days and what they may mean for the sp should certain events take place in the next 24-48 hours. I knew it was going to end in tears when i first noticed it (see below)
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dolphinwrestler@
Darkstone@
GARETH78Anywho this help explain a few things...
How and Why did they get caught with their pants on? well the answer to that is easy as, in short (no pun intended) they were to quick on the trigger and funnily tried go against a very bullish technical signals, check DS's charting that he posted a few days back. any who, probably said way too much.
