Jeff,
I would be interested to know if anyone can pinpoint the brokerages that are brokering the sales? I do not have that capability, but I am certain that someone can narrow it down. I agree with Richard M. in that a short covering rally could be explosive and brutal to the shortseller. Most of us are tapped out on this stock, but there is perhaps sufficient demand out there to cause outright pain, particularly at these levels and lower.
If we can eliminate the insider selling, and all the other issues discussed, then we come to the conclusion that there is certainly some
"funny stuff of unknown origin" affecting the stock price. Average volue is up greatly and share price is down.
As far as company insiders, Jensen, Twiford, etc do not own enough shares to support the kind of selling that has been underway. Sonny Lamont, I sespect does, but it is restricted, and I would doubt seriously that it is him. There have been sizable purchases of restricted stock over the years, but again, mostly restricted stock.
One concept that should not be ruled out is ofshore interests with deep pockets. Perhaps I am being as paranoid as Zeev here, but I bet it ain't the Russians as they are having their own problems right now.
I will leave that open.
We are certainly well into a time of great change in the markets. I saw that today in the financial markets. I am applying for loans in Swiss Fracs, Deutschmarks, and British Pounds--Any takers??
Loanley, Jack |
