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Tenet Healthcare Corp. Message Board

  • georgespelvin Dec 9, 2010 6:48 PM Flag

    short volume to be closed

    I am guessing there are approximately 15 million shares that have to be bought to close out the short position, which is around 4.5% of the float (the shares held by the general public). The majority of these poor sots will not find out what happened to them until tomorrow morning. It will be an interesting morning, with shorts quivering and nervous longs wanting to take a profit.
    I have held this for a year.
    THC is a badly run company in a field that is filled with badly run companies but is supported by an almost infinitely elastic demand and immune to normal business cycles. These companies careen from disaster to disaster and are bought up in the midst of those disasters by companies whose disasters are 180 degrees out of phase with the disasters of the companies they are buying out. So you buy in the disaster and you wait for the incipient recovery and then you can sell or hold. But the important thing is that you can very rarely go wrong buying at the bottom because the sector is subsidized by the government and the demand for the services is elastic.

    Interesting day ahead of us.

    Also note the not insignificant insider buying in August without the usual insider selling.

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