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Synta Pharmaceuticals Corp. Message Board

  • jfk123_1 jfk123_1 Sep 12, 2013 4:01 PM Flag

    Why we are better off after today......

    Because over yesterday and today we moved over 4m shares into long positions in the hands of people who either now have a higher cost basis through accumulation or into new holders. This means that our next move up has a higher starting point in terms of the shareholder base, and that profit taking is moved to higher levels past previous resistance. We have also worked through stock which can be used to defend resistance at 7.10, and because the volume was so high and the shorts have had to come out and defend so aggressively, the shares are hard to borrow, and shorts are screwed when it comes to covering and also have to now pay cash interest on their positions - which is a big disincentive to holding their short positions, especially as many are already at a loss having entered sub 4.50. We are moving up, and the squeeze is on. Some of you just don't realize it yet. Give the shorts more rope....

0.3079-0.0069(-2.19%)Jun 24 4:00 PMEDT