George/Neil:
Now that it is selfevident that the fundamentals don't justify the price, were back to artificial short squeezes. Neil/George, Presstek, previously had been a difficult stock to short as various promoters of the stock, urged shareholders to take delivery, or hold the shares in a cash vs. margin account. Given the short covering in the past few days, this strategy is old news.
As previously mentioned, 2 weeks ago, you could only borrow 5,000 shares to short. On friday, I was offered 100,000shares, which is basically unlimited. Thus, the short position has been signigficantly reduced/covered. Neil, check with your broker, he'll confirm this.
Short covering is not going to save this stock.
Neil, I find your new source entertaining, "The Psychic Detective, Remote Viewer". Desperate??? |
