Quick clarification on this shorting. It has been my understanding that the shorting done on this stock from the multi dollar range down to under twenty cents over the summer and early fall, was done by an individual who thought he was covered, i.e, he believed he had shares due him and was selling them early.
It is also my understanding that the individual discovered that the shares he thought he had were not coming to him. Thus, he was now naked shorting. Angered by this, he irrationally continued to short lower and lower. Since his strategy was working, as it often does with BB stocks, he continued. Unfortunately for Shorty, he was shorting directly into buying by the likes of me, David Smith, Franco and other early members of the thread.
Again to the best of my knowledge, he has had severe problems in covering his now naked short position.
But make no mistake here. I am not still in this stock because of the short position. I am here because of the fundamentals that exist. The short positions is merely a little turbo charger to kick this stock into high gear.
We want to stop shorty as the first step in permitting the stock to grow unencumbered. Stocks will always get shorted, but the goal is to keep it to a minimum. Stopping the rampant shorting is Step 1 then comes the fundamentals.
I apologize for my prior outburst but when I read repeated misquotes, I go off. If you feel comfortable going in and out of this stock Dudley, do as you need to be comfortable.
TraderGreg |
