Half the shares sold yesterday were sold short. Looks like the new bag holders are in for an upcoming big seloff. The Pros don't lose.
Date Symbol Short Volume Total Volume Market
20100225 BAC 13,294,613 26,635,721 P
If this is what the woodshed feels like, then spank me in.
You know it is gonna bounce between high $14's to the low $17's?
Buy low, sell covered calls as it rises. Sell the calls to the shorts who try to cover.
so 13m shares were sold short in that one day couldnt that just be the market maker providing liquidity vs a hedge fund adding a new short position-if we had that kind of data daily who is buying who is selling then it would be a fair game---
I'm not naive...the big boys make money on both sides of the trade. I always say...regardless of if they are moving it higher or lower they will continue to do it until the people on the wrong side of the trade are close to suicide before they turn it around. It's amazing to watch.
eh...I'm in at an average of 5.25....what do I care about a downturn here or there?
On the other hand, if it continues its ascent...well, the sky's the limit. Maybe buy a new Mustang and a Vegas condo.