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Independent Bank Corporation Message Board

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  • homerlighthouse homerlighthouse Nov 30, 2009 5:56 PM Flag

    Low Price/Sales: & Price/Book is good

    What did you expect from the shorts?

    You asked a few weeks ago if I thought IBCP was over sold. Yes.

    For those of you who do not recall, I sold at the high this summer and was slammed because I stated that IBCP was over bought.

    I hit the nail on the head again.

    I will now go on the record to say IBCP is now over sold.

    I am proud to say I have been buying at these low levels.

    The shorts have done a good job driving the share price down.

    Over 2 million shares are short as of a couple of weeks ago.

    When this happens, the share price tends to climb as the shorts realize the share price has bottomed out and it is too risky for anyone to add to their short position.

    What happens when the short realize the share price is to low?

    The shorts start to cover and take their profits.

    The shorts that are the first to cover will make good money.

    Right now is the perfect time to be buying shares and for the shorts to start covering.

    What happens when you have 2+ million shares short and shorts rush to cover?

    The share price climbs fast.

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12.79+0.40(+3.23%)Sep 18 4:00 PMEDT

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