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Repligen Corporation Message Board

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  • pennywise6678 pennywise6678 Aug 22, 2005 6:20 PM Flag

    Dumb question, but who buys a $3.xx

    The 100 share downticks are commercial shorts walking the price down....I've watched in horror as they would do that at 10am each day on SCLN....

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    • I found this bit of info on a trader's site tonight:

      "The New York Stock Exchange just reported record short interest for the month of August. This is an important sign the market isn't ready to go much lower, at least in the short-term."

      It's a classic contra-indicator. When the crowd goes short, the mkt usually rallies. I don't know the specialist vs. nonspecialist short ratio right now but it too was rising (more amateurs were shorting vs. pros) a few days ago. Of course, rgen has been trading pretty independantly lately anyway.

30.23-1.18(-3.76%)2:36 PMEDT