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OVERSEAS SHIPHDLG Message Board

  • asiancolossus asiancolossus Oct 23, 2012 9:55 PM Flag

    we need time

    As a recent bagholder (and I know you bashers love calling us that!), I suspect that selling from this potential BK news fueled the fire for more shorts. I wonder what the short % is now, I gather its probably closer to 50%, probably lots of people naked shorting trying to get everyone to sell. The lawyer business doesn't concern me, its expected. If the company wanted a real legal nightmare, then go Chapter 11 right after announcing that they are investigating 3 years worth of earnings. Now THAT would be real grounds for fraud. But who knows. All I can guess is that if we are given at least one or two weeks without any Chapter 11 filing, I think the momo players and short covering will accelerate and this thing should go back up to the 3 to 4 range, maybe more if there is wicked short covering.

    Opinions???

    BTW I averaged down and out if it does hit that range, crossing my fingers, I still think this thing is playing with fire and I do regret catching this falling knife.

    Sentiment: Hold

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