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Linn Co, LLC Message Board

  • no_need_no_stinkin_badges no_need_no_stinkin_badges Jul 14, 2013 4:48 PM Flag

    Avi Morris SA article on LNCO/LINE

    On Seeking Alpha, first article on Yahoo Summary.
    Avi said: "Active shorts are looking for even lower prices (in the high single digits)."
    Avi is long Linn.

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    • Well, to say shorts are looking for 8-9 dollars is a stretch IMHO. Stock hit 23.00, rebounded in a decent amount of covering which should have consisted of many shorts selling their positions and taking profit. 4.59 million shares held short as of June 29th, prior month 4.47 according to Yahoo Finance Key Statistics tab. Does that mean they are ALL out or there are no new positions as of last week? Definitely not. It's not for the weak hearted as I have opined here and the new Alpha article reiterates, but you certainly need some bullets on the side IF there is another deep dip. Never go all in especially off a 30% rebound, maybe that is why you are seeing a little selling, re-positioning for a lower price, taking some profit off the table near 30.00 and sitting with shotgun on shoulder? I have considered selling 50% and waiting also, but one word from the SEC about finding no substantial evidence in the informal will send this rocketing back to 36.00 in 5 minutes in an open market. I have a good portion of shares bought at 23.17 and some at 31.00, so I am not in any margin danger but still I must admit I have been thinking over the week-end about the opportunity to re-position some shares. To say that shorters don't play the same re-positioning game would be inaccurate. The battle continues........

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