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ZAGG Inc Message Board

  • slickdis1@gmail.com slickdis1 Mar 9, 2013 4:46 AM Flag

    Lots of shorts covered their position

    I forgot to mention this but since Wednesday I've been using my broker's tool to monitor how many shares are available for shorting and there's been a steady increase in available shares. It went from about 40k to 250k over the last few days. Obviously this means shorts have been covering - so this is good news for us longs.

    Remember though that this is only a sample from my broker... but I think it's still a pretty good indication for the future.

    Sentiment: Hold

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    • it will be interesting to see how much the shorts have been able to cover and at what price. 8 million shares short means they need to cover alot of shares. with zagg buying back stock, the shorts have to buy back shares just to stay even. zagg is still under the resistance, so technical traders are not yet buying. i'm hoping the shorts are not able to cover much until it break that resistance line, because that is when it could make big moves up fast.

 
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