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Mitek Systems, Inc. Message Board

  • h8ster May 12, 2014 4:11 PM Flag

    Final Taly for the day

    Well, the final 30 minutes, once we crossed the $3.75 resistance, the short sellers started pounding away. Averaging up, desperately trying to get the PPS back down to the break even price of $3.62. Yet, we finished at $3.66 with nearly 200,000 shares shorted. Roughly 28% of all daily volume.

    In all, today's shorts lost the battle.
    April's shorts, for those whom remained short, got toasted.
    March's shorts, for those whom remain have lost all profits and are sitting on mild losses.
    February's shorts and those before, well, just saw over a month's worth of profitsf their profits disappear.

    All shorts whom remain short before February now have to make some decisions.
    Its not about fundamentals right now. Its about what the other short trader is going to do. Once those february shorts cover, more profits will disappear for those before.

    The overall main squeeze trigger is $6.09, meaning the average of the 7+ million shares that remain shorted are averaged in at that price. Those are the big boys. Once they decide enough is enough, it's game over for the anybody that shorted in 2014.

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