I like your posts and have learned alot from your posts, even though I am long.
A few questions;
1. How do you explain the all the insider selling and yet the stock price went up during this period.
2. According to yahoo, institutions hold over 100% of the float! This indicated to me that insiders sold to some large institutions-as stated by another poster.
3. With a small float, and a large short position, this company is a prime canidate for a short squeeze. All you need is some type of new that halts the stock. Say for example there is an announcement that there MAY bo a buyout over from another company with no announced price. Stop losses do not work if a stock stops trading and then gaps up past you stop loss. Professionals watch stock like this that have small floats and a large short position. IF the stock would gap up, momentum players would jump in and the stock would really take off. I have seen this happen. Even companies with large floats and a large short position can see a short squeeze.
4. HOw do you explain the stabilizing of the price around $11.50 with a still large short position? The shorts will eventually have to cover unless the company goes under--not lmuch chance of this.
>> 2. According to yahoo, institutions hold over 100% of the float! This indicated to me that insiders sold to some large institutions-as stated by another poster. <<
You must not have been around when we barbecued this number. Yahoo claims that 54% of the shares are owned by 5% holders and insiders. It appears that they counted Fortress' shares that they held at the beginning of the year twice to get to that number. Fortress has since sold almost all of those shares, so that number is now closer to 1%. Yahoo was also counting Fortress as an institutional holder. Adjust Yahoos numbers to take out Fortress and the triple counts, and you come up with a number in the low 20%s, not 100%+. It'll be months before we know who bought Fortress' shares. Looks like a little went to reduce short interest. The rest?????
3).- Dream on... CMO B/V may be around $7 (my rough estimate) who would pay a 150% premium for a company with shrinking earnings and no clear business plan ? Its easier/faster/cheaper to buy mortgages.
4).- Easy... you will understand on July 24th... when they report another drop in earnings and forecast by the management...
Stupid CY, if what you have said were correct and you believed what you have said,why did you cover today???!! This is another proof that you simply don't believe what you have posted here and your next messages are going to be ignored by everone here.
You are not an honest person and are F*Ked by your own words!!! You proved yourself you are bullshitting around here. Get out or f*k u to death!