Shorts sales on SMFThis has been shorted actively for quite some time. The increase in December was more likely due to year end on a stock that had tripled in the year. The constant talk of the bursting bubble on gold. Add in the fact that one fund was going to get rid of some shares and another where an ETF mirroring a gold index would have to sell off SMF as it was being taken out of a gold index. That's when the sell off began. I find it hard to believe that a lot of the info above wasn't used to justify a short on SMF.
These guys talk and work both sides of the deal. Interesting read below about how regulation in the hedge industry has encouraged some to liquidate. Wonder how this has affected the overall gold market? Most golds are trading well off their highs and hedge funds jumped all over some golds companies.
https://www.ottawacitizen.com/business/Icahn+return+clients+money/4407043/story.html
Wes