Insiders still have many shares they plan to sell.
I checked insidertrader.com back to January of this year.
Form 144 - intention to sell shares.
Jan - 37,500
Feb - 51,315
Mar - 138,561
Apr - 311,139
May - 886,575
Jun - 9,125
Jul - 512,343
_______________
Tot - 1,946,558
Form 4 - Shares sold
Feb - 196,686
Mar - 3,125
Apr - 0
May - 30,000
Jun - 297,675
Jul - 0 [but they don't have to file until 8/10]
_______________
Tot - 527,486
This leaves 1,419,072 insiders' shares, [less as yet unreported July sells] waiting to be sold.
MMs often work closely with the company, letting them both make $.
I'm sure the insiders all love you longs for not taking profits before they do,
but once the insiders are out, do you really think the MMs will continue holding it up?
Shares are getting hard to borrow for shorting, possibly because the MMs are taking short positions themselves.
If that is the case, when the fall comes, not even stop limit orders will help; the MMs will blow right through them.
Beware the MMs - they have taken lots of $ from the shorts, and the longs are next. |
