Recently we broke down the latest 1.35 mil short "activity" and established that those "new shorts" were put on around 25.45....although the trading to "get there" was about 26 mil shs over those 11 days....this past Friday there were ahead slightly by about $1.50......now they are, at best, around break even assuming the average short hit around the average close for the 11 day trading period...my days on a trading desk were many years ago, but I never was allowed to carry short inventory substantially away from my mark to mark...the head trader just would not allow it....but, hey, I guess times are different now.
spent 7 yrs with Merrill Intl in Frankfurt, Germany late 60's, 6 yrs with PaineWebber (now UBS) (USA) and 26 yrs with Morgan Stanley...my trading desk years (bank stocks only) were when I was very young (25)...retired from MS in 2004 at 60 years old.
Sab I would think when the house is putting on the trade and possibly backed by Cisco that the rules are different. Bury vhc at all costs or at least try. Certainly what we have seen.Now 2 times $42 to $22 and $41 to $11 and still no cover.Usually the name of the game is make money. $42 to $11 is a good as you could ask for and still no cover. This is a seek and destroy mission.This is not normal trading.