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Rite Aid Corporation Message Board

  • syrianext syrianext Feb 1, 2008 4:21 PM Flag

    Very interesting close!

    In the last 2 minutes RAD made a run towards breeching the $3.20 intraday high and a wall of shares appeared that were taken out, then an even bigger wall of shares apeared just before the close and the short seller seemed to have won the battle of the tape and pushed the close down to $3.14. This(and the fact that the volume didn't reach above 20 mil) tells me that there are still some very aggressive shorts left here. Thats good news because if they haven't covered by now then they will have to cover sometime, and when this baby really starts to run it will get away from them very quickly. In looking back at todays chart the other interesting occurance was the 3 hours this afternoon that RAD kept on bouncing off of the $3.05 level, perhaps this $3.05 level is the new bottom, but it looks more like someone or some fund is quietly building a postion in RAD. In any event it will be interesting to see the new short numbers, my guess is that there are still in excess of 40 million shares short here. Everyone have a great superbowl weekend.

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RAD
8.05+0.01(+0.12%)Apr 29 4:00 PMEDT