The following is just my opinion so don't take my advise The shorts by the data have indicated they are packing their bags and call it all to hard with BOE. They may have days were they try to force to price down but they don't have a lot of stock left to trade down. This may be difficult to explain but I will have a go. The shorts by my calc's had borrowed enough shares to short the company by 28.7 % but ended up heading to the exit when there peak sort number was 26.13 %, they had 2.6% in reserve. Now they decided to get out they have paid it back including what they have purchased on Market. In fact Citi Group has reduced by 4.3m shares State Street has reduced by 13.2m shares That is a total roll back 17.5m shares with only 10.5m purchased on market since the peak. What's interesting is that at this stage JP Morgan has remained solid and hasn't reduce its number. The short sellers current forecast loss is $81m and I can bet it will get worse from here.
BOE Price at posting:
$3.72 Sentiment: Buy Disclosure: Held
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