We made fair profits this week --$1.54 a share on our short position.The big funds are getting very nervous-- this week we had a 1.2 million volume day, from the big boys buying in again to stop a price melt down.
Sooner or later there will be a day when the price drops 25% to 30%-- when all the big funds unload at the same time, and no fund will be willing to put up the $50M to a $100M to buy shares to stop the rot.
For folks that watch these things[like us]you will note it is taking much more capital to buy shares to support the price.At one time a 1.2 million share day would move the price up a couple of dollars, now this volume hardy impacts the price.Thus a 6.5 million shre day will be needed[matching the recent recod volume] to move the price up overtwo dollars. Of course this would collectively cost the big funds about $350 million, and they just don't have the balls to spend that much to support the price which is over valued by at least a factor of two.
Good shorting weeks are ahead-it is'nt too late to jump in and short.
The big hedge funds own 100% of the float and use Shfl as a plaything by continual manipulation of the price by contrived mini rallies,and sales back and forth between the big fund share holders to try and support the price.
As to talk of a buyout of Shfl by IGT -whats in it for IGT?--Nothing but a grossly over priced stock with no meaningful earnings when compared to the high price.
We look forward to more price drops next week and good shorting profits.
This is for every one. I have a put and call straddle in SHFL. So far the put has doubled and the call in down 50%..I wondered what you figure the down side resistance point is? I would like to exercise the put for the bounce up. ( if it comes)..Maybe some of you people who go on technical info might be of some help.
Al, if I remember right, you had over three times the money at risk for the calls versus the puts. Is this correct? Time and time again, Shfl has bounced up whenever it drops a buck or two below 25. If I were you, I'd grab the profit on the puts, and hope your calls work out for you. I don't see any move below 23 in the cards. I have sold puts naked at 22 1/2 for November, so my money is where my mouth is.
best of luck.
Al, except for a short period of time when expiration approaches, it rarely pays to 'exercise' as opposed to simply selling your position. You simply don't want to give away any remaining 'time premium' if any in the bid price, which you would be doing if you 'exercise'.
On the other hand, 'exercising' becomes more viable when time is short and the best bid to be found is at a 'discount' to intrinsic value.
Hi Deb. She is still hangin in there, blood tests every two weeks, shots of Aranesp at least once a month, but thankfully still holding against dialysis so far. We had to cancel our plans to go to Kohala for two weeks because the doc advised against it, but we are settling for five days in Las Vegas in a few weeks. Other than the usual aches and pains of gathering old age[now 73] we are okay. Thanks for asking, you are a fine gal.
You hit advanced equities then put in the symbol you want in the upper left had corner and hit opinion.. At the vefry bottom it gives the resistance 27.51--pivot point 26.02 support level 25.13 and some other stuff..
Lots of info on this web side..Also the hight % and lowest % of all stock t 250 stock..Very good tool.