You can draw your own conclusions on the following numbers. For the entire months of November and December 8.4 million shares were traded totally and the stock declined. Over only the past 5 trading days, 6.2 million shares have traded and the stock has increased. Since there were 5 million shares shorted as of 12/31, it is reasonable to conclude that some of this recent volume is short covering. But the shorts have been a persistent lot, so I am not as yet convinced that a significant percentage of this volume is short covering. One thing is for sure, something positive is going on. I remain hopeful that multiple Institutions have done some channel checking and have gotten some very positive feedback. Bear in mind Dr. Gulfo will be making a presentation at the Needham investor conference this Wednesday morning at 10am.
Given the behavior of the pps in Nov. and Dec., we all know that some of it was selling year end before the tax rates went up. And now, as Endo says, "something positive is going on." given the recent pps. I remember how someone had said a few months ago (it might have been you Endo), that these hedge funds spend a lot of money in gathering intelligence. And if that feels right to you (as it did to me when I first read it), then given the hiring of a new PR firm, followed by the "abrupt" announcement of the presentation in a couple of days, the recent behavior of the pps (short covering or not, something is going on), and the roll-outs coming in as projected, then it seems to me that an announcement will be made on the 16th that is, although unknown by most of us, positive for Melafind. The only thing that makes me question a BIG positive announcement as I think about it, is why the shorts aren't covering big time now? Don't some of them have the same resources as the hedge funds in terms of "intelligence?" It doesn't jive. Sam
"The only thing that makes me question a BIG positive announcement as I think about it, is why the shorts aren't covering big time now? Don't some of them have the same resources as the hedge funds in terms of 'intelligence?' It doesn't jive."
I think Sam is really benefitting from that article he wrote about Columbo many years ago in TV Guide.
Bear in mind that under SEC regulations Gulfo cannot make an announcement of any real magnitude at the Investor Conference. The timing of the Conference would be perfect if the company puts out a positive press release either tomorrow or early Wedneday morning prior to his presentation.Then he can speak about it at the conference. For example, an announcement that the company has entered into a major sale agreement with a national medical organization.