Some shorty hedgers came in pretty much guns blazing on the tMeds. Already volume at 43K. More importantly tMed price ask levels are reaching our long sell (of the tMeds) levels. Current lowesst ask book is over $20. Look for a nice pop even now on the TC common as the hedgers become trapped. Enjoy the ride as at the start of this, almost 20% of the float was shorted.
At the risk of being redundant - message to all (common stock) longs:
Regarding the high short interest here, and high number of retail investors, whether you have 250 shares or 250k shares, don't forget to make it difficult for shorts to use your shares. It behooves all longs to decrease the number of shares available to borrow. You can easily do this.
1) Tell your broker you do NOT give them permission to loan out your shares
2) Put a market sell on TC substantially ($15?) above the current price. This will prevent shorts from borrowing your stock, (and the higher price will protect your profits in case a takeover offer comes in - not unlikely.)
Heck, I don't have an uncle that runs a hedge fund, do you? Might as well make it difficult for them. If metal prices stay strong and TC takes out $4.50 this year there will likely be some butt covering going on....
Hey dragon I have seen you post this a number of times.
I have been told (can't verify) that this is all a myth.
#1 I have heard that most brokerages will not allow this.
#2, I have heard that an 'unreasonable' (high) limit sell bid does not prevent them from loaning out the shares.
I was told that most brokerages have verbiage in the fine print that basically allows them to loan out regardless of whether you want them to or not.
This was discussed a few weeks ago on the Mcp board if you want a reference point. I don't think it's a big issue one way or the other. Squeeze seems to be on regardless of what