to the new dividend. Now may be a good time to buy. Dividend should be safe for at least a year and the premium is almost gone with the pps at 10.05. I have been out since the Goldman bonanza when I sold 40,000 at avg. 11.28. Bot 10,000 back today.
Pretty risky to be short here with all that is going on. Will start to get expensive to cover soon. Stock has been down so long that .12 bid looks encouraging. Level II shows an order to sell 150K at .129.
I meant they look quiet today. However, short positions must eventually be covered so this leads to a squeeze accelerating the upside when the stock starts to run. This is positive for the pps when it starts to snowball.
The daily short reports you refer to is not real short position activity. I just found out the only reliable short data is the FINRA twice monthly report. The daily figures count all sales stabilizing the market by MMs. You can do a search and find out more. I tried to post a link but was blocked. The latest published short position for CTSO is only 2,000 shares.
You are correct. MMs can have a net short position during the day as part of their activity. This type of shorting is legal and necessary for efficient markets. This is not predatory shorting like the old bear-raid days.There is no money to be made doing that on a penny stock. PETRY is incorrect in his interpretations of the short activity. The FINRA bi-weekly report shows the true short positions. The latest published report (as of March 15) shows a short position in CTSO of only 2,000 shares.
Let me try to explain - the daily short selling you see is not real short selling. A market maker is allowed to sell to fill a buy with more shares than he currently has in inventory. This will show up on the daily short report but it is not a real short sale. Also, on the daily report any new shares being sold are considered shorts on the daily report if they are not in stock in a broker's account but they have until settlement (3 days later) to deliver. Please do some more research on this topic for yourself so that you do not get so upset. Look up the parameters for the FINRA daily report. I found it but YaHOO won't let me send a link.
If LPC sells shares they will show up as shorts until they deliver the shares. That's the way it works on the daily reports. End of story!