Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ItsAllCyclical who wrote (50145)	8/31/1999 3:55:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

RRC; 5K, 5K, 5K, 5K short covering I love the smell of short covering.... This stock had a couple of 2-5K trades early, mainly lots of 100 lots all day.... now 5K, 5K, 5K, 5K, etc...... 19 days of pure short interest to cover ! ................. I simply could NOT believe that the Street was ignoring the fundamental valuation here.... I knew that the Bank redetermination was a biggie - but, never thought short interest would get to this level - driving the stock down 40%. .... untill; someone reminded me of RRC's inside interest @ 9 million shares vs. the float of 27 million. The short interest is more than the 2.53 Million shown as of Aug 9th as well... There is some hedging of long positions in that short interest & a great deal; but the pure shorts are the ones I am soooooooo going to enjoy seeing squirm.... The race to the door begins... Of course; it will not happen all at once - can't dump 2.53 M shorts overnight when we've been trading at this level of late.... wait for the big move - upon official closing of the JV; that is when all of the ''hedged shorts'' return to pure long positions ! ... this is a 4 seam 80mph fastball, waist high down the center of the plate folks - if you can't hit this one.... you'd better be a hell of a glove man (VBG) ! YESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS ! $lider circling the bases....

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next