OPK has a large short position and any short covering rally could quickly shoot it pass $6. The spike up may also be institutional buying. They may also be positioning themselves before any upgrades and/or going public with initiated positions.
Only a fool would short a stock that is in a solid uptrend, has insider buying, is being hyped by Jim Cramer and it's only 40 cents away from it's alltime high!!!! Once this stock crosses $5.85, it's going to take off!
FOOLS=Hedge Fund SLIME Thats why many went out of business last year and still more lost their shirts and can NEVER meet their high water mark. You had better cover immediately or Dr. Phil and the real smart money will stick it in even deeper LOSERS
To my knowledge, there has been one upgrade of a company that was at the JP Morgan Conference, CLDX. Target raised 3.00-6.00.
The volume there doubled prior to the upgrade, as happened here today. I expect at least one upgrade by Friday. Cldx spiked .55, I think we could do more, we have higher % short ratio, might see low 6's. Maybe JP will do the upgrade, they own shares or one of the many other bank/brokerage owners. I think target gets raised too from 8-12, Not a good time to short, Elsie. If we get more than one upgrade this stock will not be medicinal for ones portfolio if short.
I think it's institutional buying. OPK, just participating in the JP Morgan Conference last week. I think some of these same firms will be putting out upgrades in a few days to protect their positions.