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Compugen Ltd. (CGEN) Message Board

  • sbh3117 sbh3117 Jan 28, 2013 2:19 PM Flag

    Computerized shorting continues

    A significant percentage of shares being sold continue to be the result of strategic, computerized short selling. Here’s an example: a block of approximately 4000 shares went off above the ask price a couple hours ago at 5.65, and within 10 seconds 100 shares were sold/shorted at 5.61. (Hmmm, if you can get 5.65 for your shares, why would a human being sell 100 shares [!] at 5.61?) Part of the strategy is to make it appear that the stock is going down instead of up. This happens over, and over, and over again.

    In the last 15 days of December, approximately 150,000 shares were shorted, and in the first 15 days of January, another 135,000 shares were shorted.

    As I’ve said, this shorting has little to do with the fundamentals of the company, and everything to do with computer algorithms that select tiny companies with low floats: these are the ones whose stocks can be manipulated in the manner described above.

    I, for one, am looking forward to the upcoming conference call. The company is more optimistic about the future than it has ever been, and I’m hoping to hear about the progress Compugen has made towards commercialization (and the company’s advances in discovering mAb’s that fit the new targets.)

    Ultimately, regardless of computerized trading, the fundamentals will prevail.


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    • Today is the perfect day to witness computerized short selling in action. There's at least one big buyer, and at the same time the short seller is trying to keep the price down. Any lull, and a 100 shares goes off at the bid price.

      None of this (on the short side) has anything to do with the fundamentals of the company. Let's hear what the company has to say on Wednesday, the 20th, at the latest conference call...


      • 1 Reply to sbh3117
      • Financial institutions file their holdings every quarter. I believe all of them have to be in by tomorrow. These things shift around quite a bit and should not necessarily be taken as a vote for or against any company. By looking at these things you can sometimes gage where the selling is coming from. We knew wells Fargo reduced and now we know that clear bridge reduced. Their filing of a 13g today may have spooked us into a retreat from what looked like a great day
        Regarding short sellers, there will always be short sellers, virtually every stock has them. The best way to combat them is to have the company perform. I am very much looking forward to the call on Wednesday but unless we are willing to commit I do not see the call breaking the stock out of this range.
        I doubt there are many bigger supporters then some of the folks on this board (including me), but we need some help. In fairness to the company we may just have to be patient. Every test that is done successfully on 15001 or others raises the value of the product. We do not want to sell to early but it is not easy waiting.


    • "I, for one, am looking forward to the upcoming conference call."

      sbh, I've been looking forward to the conference calls for the past nine years...

    • BTW, Jeffrey Grossman, an outside consultant to Compugen, writes compellingly about the damage caused by the elimination of the uptick rule in today’s (2/4/2013) JG, Caesarea blog. My guess is that he has been watching the current attempted manipulation of Compugen’s stock price, and that this spurred him to write the article.

      No links are allowed on this message board, but if you google jg, caesarea uptick, I’m sure you’ll find the piece. Worth a read.


      • 1 Reply to sbh3117
      • I read Jeff's article and I agree with him about the uptick rule. Having said that if I am not mistaken Warren Buffet has a bet regarding hedge funds ability to beat the S and P. Warren is winning so far. Investing in the short term is as much psychological as it is factual. I have had a few happen to me today.
        Regarding our stock, I hope our shorts get their comeuppance in the very near future. Realistically what would you value cgen at today. We have nothing in clinicals and have never had any signicant commercial deals. Those of us who follow the company may believe it is worth twice what it is without financial confirmation but if I took a cursory approach I would think it were more then fully valued so to have some shorters out there is not surprising.
        Looking forward to news. Tuesday is generally announcement day so maybe something tomorrow.


    • Absolutely right sbh.and it almost mirrors what happened in the early part of 2012. Regretably this is now the way of the world and those guys continue to use the stock market like a roulette wheel but with a higher chance of success! it may be a jaundiced view but the market is now awash with the gambling fraternity who have no interest in a company and only identify companies such as cgen as an agent of risk which they are prepared to gamble on. Well I guess the old addage of "the house never loosing" is something we should all take comfort in and I look forward to the day when these individuals/organizations have to run hard to cover their bets!!

      Sentiment: Hold

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