Bank of Cyprus short positions exposed

Speculators who built slightly more than 2 mln short positions on the share price of Bank of Cyprus (BOCY) through the Athens Stock Exchange on Thursday, which forced the price sharply lower are likely to be exposed Friday morning at the open, following the sharp rally in international stock markets.
“Share prices are likely to rally sharply higher following the rebound on the Dow and Asian markets. But the gains on Bank of Cyprus are likely to be even more if other market participants decide to squeeze the shorts out by taking the price even higher than would warrant under normal circumstances,” an informed source told the Financial Mirror.