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Molycorp, Inc. Message Board

  • duke1inc duke1inc Feb 14, 2013 10:53 AM Flag

    repost of "shorters closing out positions."

     

    The Shorters are leaving the market. MCP had 25% of shares outstanding as a Short opening position about 3-4 wks ago now it is less than 17%. 2 days ago it had 500K shares bought @ MOC yet the ask price stayed constant. Today 2/13 again @ MOC 320K shares were bought but the computer moved the ask up from 7.37 off a sell at 7.36 to 7.39 because it has less shares on hand due to shorters closing out their positions at these low prices to lock in profits & due to takeover rumors that make alot of financial sense with most believing MCP will fetch $15 per share plus. There is still a very large short position that could ramp up with bad earnings on 2/28 but they cant get caught with anything positive out of the earnings report. Makes money sense as well they have been shorting since $40-$50 price range so taking some big profits now is better than trying to take them as the market runs up or after a takeover offer. The down side is what maybe $2 more vs losing profits you have locked in now of maybe $7-$10. Remeber the old saying... Bears make money, Bulls make money but Pigs get slaughtered.

    Sentiment: Strong Buy

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MCP
2.13+0.17(+8.67%)Jul 11 4:03 PMEDT

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