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SUPERVALU Inc. Message Board

  • salmon_the_man salmon_the_man Jan 15, 2013 5:39 PM Flag

    524k shares were bought at last second at $3.55

    This has been repeated in past few days where a large block comes to buy shares.
    There are 2 scenarios
    1- Someone accumulates shares to tender or keep
    2- A shorts position is covered

    More likely is the second choice since investors have chance to buy during the hours at lower prices.
    Only a desperate short goes for a big chunk without pushing the price too high.
    Volume is dropping and it will be much harder to cover a lot of short position. As we get close to tender day, shorts will be more desperate to cover. They can't recycle shares anymore since more buyers are waiting to grab the shares.

    Sentiment: Strong Buy

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