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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (158655)	10/19/2011 2:52:18 PM
From: diana g	2 Recommendations Read Replies (1) \| Respond to of 206093

BEXP Hi Dennis, You wrote: "...I think that was short covering. You missed your chance to get more than $36.50, ..." I agree that there was short covering in there but the # of shorted shares as of a few weeks ago was 5.5 million and there were well over 10X that many shares traded that day. Of course there was lots of selling and buying for other reasons, but my point is that your laying off that last-half-hour-in-the-day rise above the offered $36.50 to short covering is shaky. If I was covering a short on BEXP that day, I would have known that the deal put a floor under the price and that there was the possibility that something could happen to raise the price. Knowing those facts, would I wait until the last half hour of trading to cover my short? Why? ---- At the time (that afternoon just before the close) the sudden jump up in price looked like it might be the result of large entities having examined the deal and concluded that something could cause the price to go up well above $36.50. I agree that now, after time has passed, that supposition doesn't seem solid. (i.e., it doesn't seem likely that was the reason for that brief end of day price jump. Whether something will cause the price of BEXP to increase in the future is another question. I am holding onto mine for now.) ---- The 3:30-4:00 jump in price has no clear explanation I can see. But short covering? I don't think so. Regards, diana