Jim,
I don't think that "the squeeze is underway" just yet. There were more sellers than buyers today, many could have been churning, but a new mm decided to enter the game, Lexington Capital Partners, (formerly Hanover, HANO) and certainly one of Asensio's pals.. (Asensio use to rent space from Hano at 100 Wall Street). The mm's can be naked shorting right now, but the campaign to get all the long shareholders to make sure that their shares are not on margin and in cash type 1 accounts is having an effect. Asensio has his back up against the wall. I know two new shorts to this stock, who never even heard about BTIM, and then with Asensio's paid for press release on 10/26 got in.. and then got out (with a loss) when they realized that BTIM is set to break out, and the scenario for a short squeeze is in place. These two shorts were quite upset with Asensio. I wonder what will happen when he gets more newbies into shorting BTIM... the guy must like playing russian roullett..as he is about to lose this round.
I continue to keep on eye on the PR Newswire.. to see what he is going to say next.. however, I also think that Mark Veverka has lost credibility as a journalist.. so I wonder if Asensio's other "shill journalists" are going to be a little more cautious.
The shorts have all heard the same rumors about FDA approval sooner than later, they (like us all) just don't know the date..could be this week, next week.. so they are going into hyperdrive. Expect continued volatility for this week. I have put in my limit buy orders and am hoping to pick some more stock up cheaply. I think testing 13 will be significant (13.5-15) then the next base will be at 18, and if we break 18, should shoot up to mid 20's.
For the record, I really do believe that these guys thought they could take this stock down to 0. However, that was prior to message boards. I think that what we have done (more on Yahoo than here) is to create a community where all the shareholders can meet and formally devise a battle plan. If all the shareholders were unable to talk to each other on a daily basis.. then, I think Asensio could have succeeded with his scam. He had one really big success, Diana, and based on that.. he got a little too carried away. He is evil incarnate and I am thrilled that HEB is fighting back, as I am equally thrilled and proud of the long shareholders of BioTime who knew what we had and were willing to come together and fight back. IMHO, I think that when the squeeze does kick in (probably around $16) even if we do not have FDA approval at the time , this could very well be the short squeeze of my lifetime. The float is still 7 million, and the short position is 1.7 million.. hmmmm. I like the odds.
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