This thread is meant to be a forum for discussing biotech stocks where there is (or is rumored to be) a substantial (likely institutional) short position.
It is not primarily intended for short-term discussion of "day-trading shorts" where a biotech like ENMD spikes unreasonably in response to news.
Most shorts (except of course Asensio) tend to be circumspect in disclosing their position. Published short figures are notoriously unreliable. Often the only hint of a large short position is mysterious declines in price followed by a series of "tells" where we suddenly get bearish articles, with TheStreet.com and the regional editions of the WSJ being favorite locations. This thread is intended to bring these hidden shorts to light.
Sometimes the shorts have been right (PGNS); often they have been wrong (AGPH, CNTO). For many stocks the answer isn't in yet (CLTR, GELX, SEPR, ENMD, maybe GLIA). In any event, they are a real, if mostly hidden, phenomenon that is worth studying.
Remember that shorts aren't all bad (I've been known to indulge myself) and are sometimes very insightful. To some extent, they serve a useful function in the ecosystem (like ants, dung beetles and vultures <g>), by acting as a counter to hype. |
