Morning Darpa,
One of the common misconceptions here on SI, is that you can't short BB stocks, such as GTCI, without having an off shore account or being a MM. This is erroneous.
Anyone can short BB's here in the US. The only requirement to do so, is to have the available funds in your account to cover the transaction, and for your broker to be able to borrow the stock. If there are longs holding, that's usually not a problem.
Example: With a cash balance of $150,000.00, I can short 100K shares @ $1.46. Then when the price falls off, usually helped by bashing, I can then cover at $1.25 and make $20,000.00.
It should be noted that most shorts do not cover during periods of high volume. Its usually done after the volume falls off, making it easier to get a lower price.
In light of the fact that our resident basher has been at it steadily for 2 weeks, purportedly trying to save our souls, my guess would be that he and his group are short big time.
Have doubts???? Call your broker and ask him.
JMHO of course!
Blessed |
