Paul, by August 9th we had already much more than 2 MM short. My point is that the great majority of the short position is making money, no urgency to buy, the great majority of the long position is under water and thus a source of selling, until the fundamental situation changes, namely, where are those PO's. Frankly, 10 days before the end of September, when Ireland was supposed to be ready to ship, there is no ground swelling of buying, and that must be indicative, IMHO, to additional delays. So much that I removed a GTC at 5-5/16 I had in. I lean to the position that $5.25 will not withstand another onslaught.
Zeev
Zeev |
