Short Squeezes Message Board

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Microcap & Penny Stocks : Short Squeezes

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From: robros	4/5/2010 2:40:42 AM
	of 182

FTK issued their 10k and 4q09 report last week. In spite of continuous losses, it appears there is some light at the end of the tunnel. The stock has been priced for bk but together with the filing, the company announced a new not-so-bad credit facility which may help them make it to the other side. Last Thursday, it also looked as if some of the shortsellers started to close their positions. The company is still surrounded by controversy but it has a few things going for it that can help. Such as, sector has wind on its back, potential tax refund or asset sales in 2H10, possible JVs, additional cost cutting and some nasty sentiment by either disenchanted employees or burnt investors. I always figured this is better at the bottom than ferocious pumping which would indicate too many gold diggers swimming in the area. Not recommending this as a long term buy, just in the watchlist. For now, it may recover some lost ground due to mispricing (no bk) and short covering. Let's see what Monday brings.

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