LET THE SHORT SQUEEZE BEGIN.....
Wall street journal today reported that the short position in NWCM in 750,000 shares. Thats amazing, their is only 2.2 million in the float. the latest vickers report of institutional holders is as follows (this is public info and if you subscribe you will get it)
Mellon Bank (Dreyfus funds) 800,000 shares
ICM Asset Management 211,500 shares
Kennedy Capital 58,100 shares
Safeco Corp 50,000 shares
Fischer Inv. Adv. 325,000 shares
J.P Morgan and Co. 48,500 shares
Titan Capital Partners 240,000 shares
Double Diamond Capital 65,000 shares
Gerbino and Co 21,600 shares
Munder Capital Mngt 20,000 shares
Heartland Advisors 100,000 shares
More importantly, after the short position number came out today several of the institutions had a conference call and agreed to take physical delivery of their shares. By doing this the shorts will be forced to cover their postiions because the stock they have borrowed to short against is be requested back by the owner. As well they all agreed to add to their positions by 10%. Where are the shorts going to cover? 35% of the float is short and they are going to be bought in so the clearing firms can deliver to the owners that are requesting them. This is going to be fun!!! 10 days average volume to cover and their is no stock for sale. We all figured this was the case but now that we know what the short position is we can squeeze em to death. Jump on board |
