price behaviour, page-20

It was interesting to note yesterday that the SP didn't get a decent kick along with the market rumours that Anglo is looking at putting an offer in for MCC. In fact the SP generally has been IMO not performing as well as you might expect having regard to the progress of the Bidco offer and has traded below the offer price in the last 5 trading days.

In the current circumstances you would assume that shorters would not take the risk of being active especially with the prospect that a higher offer could catch them out. Well you would be wrong as indicated by these stats for shorts in the last 5 days:-

16-Aug 532.76K 22.53%
17-Aug 817.38K 20.29%
18-Aug 743.06K 21.55%
19-Aug 466.05K 25.74%
22-Aug 668.88K 45.13%

I would be extremely happy to see anyone trump Bidco's offer and I now have an extra reason to hope for it! I love the smell of burnt shorters!

ANZ