The short position of 180K does not frighten me at all. No wonder, I suppose. I am foolish (my choice from the list of: 'either foolish, unknowledgeable or shorting the stock themselves') and think that
it is perfectly normal for a stock that appreciated over 300% in two months to have a substantial short position. Tell me, since you know so much about the short game, what did you expect?
Some fairy tales for you to choose from:
1. Everybody is ecstatically happy with PYT and keeps buying more every waking and trading hour
2. Short sellers congregate in a undisclosed basement in Vancouver and, after short discussion, agree that PYNG is too big for them at $4-6 and turn their attention to the stock that gained less in the first quarter of 1998
3. Company releases a substantial news at least every week for a period long enough for the stock to go to a level at which you cannot resist the bid of $50-100-1000 and sell
So, what is your choice?
Personally, I like #3. Especially, the 1K part.
In real life, though, when one sells, another buys; when stock gains over 300% in two months, somebody will short sell it. There are numerous reasons why market creates short positions in such stocks and why some players make money by being a part of it. I bet you know much more about it than a fool like me does.
In my foolishness, I am sitting on my shares and wait. I can be an idiot but I can count (I love this 1K part of #3).
I can wait a year or so to give PYNG time for normal development. If shorts make some money in the meantime, it is not going to be mine.
PS 1. VSE is not for people who get frightened when a short appears.
PS 2. Actually, I am surprised that the short position is only at a measly 180K level.
God help me, I am getting more foolish with every 1K*1K operation I perform.
Help!!! |
