Re: Someone "NOT" expecting news
in response to
by
posted on
Jul 13, 2011 12:52PM
I would bet this is painting the tape a bit regading the short position... Much easier and a whole lot cheaper to sell a bit of stock than to have to cover that short in a low volume market. The clock is ticking, and if I'm right about the short has an offseting PP position held up in hold for another 2 months, this guy is squirming right now....LOL
Lets say the share price pops to $2.00 and the short position was put on $1.50 and lower avg $1.40..... he's $200,000 underwater @ $2.00, but it could cost him 700,000 to $1,000,000 to cover that short just to $2.00.... If he can wait it out and that stock becomes free trading there is no immediate cash requirement.
Also he can`t even use his wts untill after the hold period either.
Good news, such as a chromite deal and $3.00 to $4.00 are possible....In short....LOL sucks to be that guy!
If this short is put on by one individual you can bet he isn't sleeping at night and every day his ars is puckered up in fear of a huge news release that would make the stock pop.
Now if everyone would take thier sells off the tape we could likely see steam rise from his corner.
Come on Dave... Time for a field goal!