My guess is Nissan shortly after earnings at 17.50 per share. There are too many indicators for this not to happen. How could anyone short this stock knowing they could wake up one morning with a 100% loss of their position during a closed market.
"How could anyone short this stock knowing they could wake up one morning with a 100% loss of their position during a closed market?"
Great question and one I grappled with while being "caught short" on Friday. The answer, however, is pretty easy: daytrading. MCP has more down days than it does up days (the last 2.5 years running). If you can keep tight manual stops --and honor them (something I'm not so good at)-- and you get out by the end of each day, there is nothing to fear about premarket or aftermarket news.
Shorting MCP has been very rewarding for a lot of folks for a long time. And, I think I can speak from experience: excluding prior swing trade gains in 2011, I lost $125K with my "buy and hope" strategy with Molycorp. I could buy two brand new BMW X5s for CASH with that amount of money -- or buy a condo in many markets today for cold, hard cash. Or go on four or five First Class world cruises for a month each. There is absolutely nothing any pumpers on this board or anywhere else can say, argue, or reason to persuade me that buy-and-hope will one day be rewarding. Those who say so are probably bagholders who are at a large loss and hoping for the tide to turn.
TAman87 on StockTwits has been consistently calling for the teens or below ten since MCP was in the 60s. And, I can remember saying to my wife, when we had bought in at $48, then $42, then $36, "What's the worse that can happen, Honey? It's not like it's going to go to eight bucks!" Indeed, I never thought I'd see the day when this stock would go to eight dollars. And yet, here we are today, and here you pumpers are railing about how this dysfunctional company is going to be profitable. Honestly, I think that 80¢ is far more likely than $80.
I don't purport to be a fortune-teller, but my hunch is that eventually, without a buyout or bailout, this incarnation of Molycorp will eventually go belly up and close the mine as happened before in 2002. I'm not trying to convince anyone here to sell or cover. It's your money; do what you want.
I don't think the shorts on this blog realize that "BIG BEAR" hold approx 25 - 28 mil shares short and has been holding MCP down for a reason so when they cover 5 -10 mil other short bears will perish here within a couple days with huge losses ..... longs should be building positions for this event it could be greatest short squeeze of all time
That Google article on China wanting the co for the technology is a good one and makes sense to me Than the issue or fact that Molymet is slowly aquiring the co by buying shares also makes sense This is how i would do it if I had the money to do so. They also have one person on the board The fact that the ceo made a fortune selling shares and buying them back cheaper and has a Investment partnership is in teresting ,and yes the auto mnakers. So which one ... My guess China or Molymet My digging around in public information has led me to believe that the CEO has an in at FCX...... now that's interesting FCX just acquired MMR and Plains in the oil group they have been slowly buying shares all along in those co.s Would they be imterested in this co ... I think possibly
However Never a dull moment here. Roach man claiming he is all in short Next step in the ego trip is to mortgage the house and really go all in IMHO big mistake here The piggy rule will eat him up .....I am long ...did add shares here.. but far from all in.. use caution This is a volatile stock. I think that 7.2 mark is a good one that is the conversion point on the bonds... also Wells Fargo is hired? Those borrowed shares that are to facilitate the conversion are they held in trust with the bank?
OT Made some nice money on END yesterday and today.Probably going to 6 and that one's a buyout candidate too(but in oil exp). Just a note we arenot as volatilea s RIMM recently... holy cow