I took a quick look at short utilisation at my broker and it's...

I took a quick look at short utilisation at my broker and it's telling that although it has been edging higher it's nowhere near more recent highs. It's interesting I think IMU are now on the final leg of the biotech investing pattern in that it appears that they have the cash to take parts of their current pipeline to a payout. I think in the worst case scenario there will still be one more CR if they have to commercialise themselves so position so that you can defend your average price for that, but all looking good. The other thing that any shorter would be aware is that we are now approaching levels where IMU starts being a candidate for different indices. If there is a little more momentum behind the share price there is a risk for the shorts in my opinion that we have institutional pre positioning at the same time as short covering which is brutal. As a long holder I admit my average holds me in amazing stead and others are in worse positions so will sell out as they breakeven. I do think in this sector IMU is now positioned as a hold until buyout and its sad that some holders will miss out on the reward simply due to their entry price.