This morning Volkswagon stock rose almost 100% because of panic buying yesterday and today and for a short time their market cap was more than XOM....
http://money.canoe.ca/News/Other/2008/10/28/7227546-ap.html
LOL,
missed my chance to get out of 25's...
Three chances to sell 4 even... three strikes and your out?
Pad
Can't believe I'm driving myself crazy over a dime.
I am short @ @^%)
Darkpool
LP's evil twin
all wind up and no pitch , where's the ghostbusters anyway ?
lp.
you trading tday?
I've got some NYX and I'd like to see $26...
from Briefing.com
The only thing I don't quite understand is why the shorts are piling on and why the share price has gone up so high on shorting? Seems like Bizarro Superman again...
Maybe someone more knowledgable can fill me in.....thanks...
Europe shares rise early on fresh VW surge, BP
European shares rose in early trade on Tuesday to break a five-day losing streak, helped by a surge in Volkswagen and sharp gains in heavyweight oil group BP after quarterly profits jumped. At 0955 GMT, the FTSEurofirst 300 index of leading European shares was up 2.1% at 833.00 points, and had been as high as 839.86. The index has lost 21.6% in October, hurt by a credit crisis and recession worries. Volkswagen was up 64%, following its 146% surge on Monday. Short sellers piled into the stock to sew up their speculative positions after Porsche bought up nearly all VW's remaining free float. BP rose 4.2% after it reported a 148% rise in third-quarter replacement cost profit, at $10.03 bln, boosted by higher oil prices. Around Europe, Germany's DAX is higher by 6.8%, London's FTSE is up 2.3% and France's CAC is higher by 1.8%. (Reuters)
Okay, the way the story was written it sounded like shorts were shorting to build positions rather than short covering...
Here is the CNBC story which explains everything...
Short Squeeze
http://www.cnbc.com/id/27414247