Short interest on 8/15, 4 million shares.... Short is way too powerful for us to handle.
I am not bashing here, but just feel no chance for longs...
$1.5 is approaching, with consideration that kmpg will pass 2013, otherwise, $.50 in september.
Sell some shares as soon as possible, prepare to buy in when shorts throw million shares at cheap price!
Alfred, the short interest you are referring to means that shorts already sold shares they borrowed and they will have to buy them back. Shorting a stock works the opposite way buying and going long does. Longs do not need to handle anything. Longs just need to sit back and relax.
No kidding, those 4 million shares has already drained the buying power of this stock, now they only need to throw another 1 millions shares to triger all the margine calls or stop loss contract to get that 4 million covered and make hugh profit.
Right, I'll sell the shares I have for a loss, then buy back the shares later at a lower price. Brilliant. As the Oracle of Omaha said, "You don't have to go back to where you lost it to get it back." In other words, if I sell now, I'm not going to buy it back.
40 millom non-traded longs means nothing, they have no money to buy any shares dumped by shorts! Market price of a stock is defined by traded shares only, not non-traded shares. Therefore, short will decide the final price