Last week, the big boys, the so-called “whales” are in action again. Keppel Corporation was the subject target and was relentlessly shorted in huge volumes. The short sell orders executed were:
...- 25 January 2016: Short sale volume: 4,918,000 worth SGD 24,158,094
- 26 January 2016: Short sale volume: 5,875,800 worth SGD 27,831,381
- 27 January 2016: Short sale volume: 3,895,600 worth SGD 18,456,686
There are other stocks that are also being shorted heavily — Sembcorp Marine and Sembcorp Industries for instance, which also have exposure to oil and gas, but also Singtel and the 3 local banks OCBC, UOB and DBS.
So does the same advice apply to these stocks?