Bear trap of the century was created on Friday .....
Heck, there weren't any shares to short at $41 and one can only LOL at those who say naked shorting hasn't taken place since the start of the hit pieces. What's funny is I'll bet that initial shorts from where this decline started have covered the majority of their position if not all of it, leaving all the new blood on the short side hanging out to dry.
This reminds me of a short position that Citron was recently stuck in on ISRG and when they posted their final hit piece designed for covering, the stock dropped for only a few minutes as Citron was covering into new
blood on the short side and the new blood got murdered (over $100 rise in price after Citron#$%$ piece) while Citron escaped without further injury.
Obviously those on the short side here were getting creamed what seemed like on a daily basis and they had to do whatever it took to unravel the damage and they did a masterful job. Friday's "crescendo" hit piece created the same scenario I witnessed in ISRG and let's face it, Friday#$%$ piece at first read looks like Citron's "crescendo" hit piece on ISRG, the kind of piece you read and initially say "screw it, I'll sell first and ask questions later," only to find out later you were duped. Let me also reference Muddy Waters slamming FMCN with a nice hit job and watching the stock plummet within minutes to $8 from $22, only to rebound strongly and ultimately being taken private at $27.50, meanwhile Muddy Waters covered down low and everyone that piled on was left out to dry.
Long story short .... I've seen this same ol' song and dance before and it's a blast to participate in profiting from the shenanigans.
My money down here in the dungeon is definitely on Kodak, Dell, Intel, the $32 financiers as well as others in the "true" know, not on some guys that were getting killed and had no choice but to strategically attack. Did you see the Computex PowerPoint ? Good grief, no wonder analysts have next year's EPS at $3.38