Let me tell you this much--There is no way that there are 75mm retail shorts in a low beta sleepy company like Safeway. One of the big investment banking firms (prolly Goldman) with unlimited money is doing the shorting. Very hard to overcome. Coupla B to drive it down. Take a few profits on the way down to load up again. Rinse - repeat. Fundamentals do not warrant a PE of 8
1. Burd call Goldman and says they want to buy back some shares.
2. Goldman shorts the shares and takes Burd's cash.
3. Goldman smokes cigars and laughs.
4. Burd scratches his head and wonders why it was so easy to buy shares.