They just killed the longs at the hedge funds. Any margin balance was "crucified". Their short positions are next. The hedge funds will get cleaned out over the next year (IMHO) of ALL their short positions. This will be a big rally.
UTSI has a 25 million shares short interest? OMG!!
I say $36. per share minimum to cover this position.
With all due respect, Dave - you have actually been a contrary indicator when it comes to UTSI rallies. The cold hard truth is this collapse hasn't really included the little guy... because most of us have no idea what's going on. We haven't had that day when everyone goes "fuck it" all at once, and we certainly haven't moved thru all of the unwinding. What does GE's $700m miss mean to the credit markets? What happens when the neighborhood grocery stores start folding because they can't even get the money to stock shelves? This could get REALLY ugly, really quickly. The market may have a few good days but the overall direction won't change until the foundation is solid, and that is probably years away. Somebody please contradict me, I could use some optimism.
well a serious question for me here... something that I would never even considered 6months ago... does one sit here and gamble on the promise or dream of bookings and profits "some day" with this managements piss poor history the past 4 years or to bail out and scoop up some real beaten down Wall street sweethearts with good balance sheets and proven performance... the high flyers bounce back nicely while we seem to always continue and suffer