I am on the bid for 100K shares at 2.12. Gonna enjoy this!
Margin for shorts were raised by half a bip on most trading desks this afternoon as the stock is in regSHO but, market makers have claimed 8 million shares short in waivers due to "market making" activities.
(If you don't pay for premium services for real time data for naked shorts, to bad). I am sure some one will post that there are only 7 or 8 million short according to the latest data from NASDAQ.
In other words, just plain old manipulation as any catalyst will reverse. Also, someone was caught on both sides of the trade wrong. The same trader is naked short and long naked call options at 2.00 on the OCT 19 and the NOV 16.
Solution - NAKED SHORT MORE, instead of covering on the break out a few days ago. Quite amusing actually. There is also a big retail buy being worked for a significant stake.
I hope the suspense will last.
Like I said, there will be some clueless person in their basement that goes to NASDAQ and pulls the old data. Try going to the daily regSHO files at FINRA and adding up the daily short volume for the past 4 weeks. Or rely on no premium (free) services for your data. If you don't have accurate data how can you even be in any stock?
Actually, I am not a happy camper now, as I am way on the wrong side of the trade with the AH print. My concern is who leaked the news and to whom. Total insider trading on abusive naked short selling. I don't think it was anyone at the company, it was most likely someone who received the filing, like their outside legal counsel. Someone got tipped! Today's regSHO reports 1.4M of total shares traded were naked short and the stock is now registering SHO.
As far as a short cover, there most likely won't be a rush to cover now as they have manipulated it back down to the 1.50 on AH print. Some firms still have margin requirements so there will be additional forced selling for margin calls on the long side as risk will now require 100% equity requirement. Sheesh! What a pain in the #$%$ on this one. Caught a falling knife on this one today, but let's see how it plays out. I got bagged with 58,000 shares at 1.99.
Been awhile since I have been on the losing side of a trade.........As long as it is in regSHO, that should limit the downward pressure, unless there is a rush to sell by actual holders, then the shorts will sit back and cover as they please. It happens now and then, but my models were forecasting 4.12 retrace on the gap. News nutted the longs.
Defined time period of 12:00 PM EST October 1, 2013 through 8:00 PM EST on the aforementioned date. "it appears as though, someone may have had knowledge of yesterday's filing before it was public, and we intend to review all trade confirmations, settlement data and will focus on the regSHO violation....."
Looks like you have some older data. Finviz is usually about 6 -12 months behind on financial data. Book Value is 34.12 and Cash Per Share is 6.11. Without boring you with an in-depth analysis it is now below book and 5.2X cash. Oversold and way undervalued, regardless of LSC, or economic conditions. Oppenheimer is short nearly 6 million shares at 18.00 in their ultra short value fund. They have been fighting the recovery the entire way, hence their comment on VLO this morning.
Guess I should also mention the kiss of death for Oppenheimer, you never downgrade (which they really only contradicted some data points in the Citi upgrade) right behind an upgrade from a big trading desk, especially when some really big players came in on the Citi trading desk, especially when you are short behind the 8 on the wrong side of the trade and already showing paper losses of nearly 150 Million with a fund that is down 47% for the year and 51% since 2010.
Shorts and Distorts are funny. Again, it wasn't a donwgrade. It was a research note that stated Oppenheimer didn't agree with Citi. The downgrades in the same note were on Holly, Marathon and Phillips. They just mentioned VLO and TSO in the same note, and downgraded those 3 to neutral, while maintaining VLO and TSO.
ROFL - Too Funny! You must remember Opp. doesn't have the ability to trade like CITI. They are bound by all of their funds investment objectives. CITI can buy in the billions. Opp. can only get spanked!
Too bad I didn't buy in..... nearly 3/4 of a bip to initiate a new short and increased margin requirement by 15% through risk and compliance.
Very familiar. Just like the Sealy (ZZ) deal. So much for that dog hunting!
and already supports GTX monetarily as it's largest shareholder and Chairman. If the company starts to have "real" cash issues, it is doubtful they will dilute with a 70% ownership stake and access to a Billionaire's private network of capital. 4 times in as many years the stock has visited the two range and again retraced to above 5.00 with no additional shares issued on the public.
I suspect the focus will be on EMEA and any additional capital needs will be addressed internally with current majority owners. They may have to redo a 3 trial and that could require an additional 25-35MM, but reality is they have access to vast amounts of private capital.
The short and distort campaign on this will burn the short sellers, as it has 6 times before in the past 4 years.
I am betting that EMEA proves fruitful and that shuttering the R&D function to preserve cash reserves to get to revenue will be a well placed strategy.
So they say AKS will under-perform instead of cover. What Crooks!
Runway Pattern today with rotation into AKS. 20 Million Positive Rotation by Institutions in the past 2 weeks trading session. Negative 8 Million Rotation by Retail. Money Flow by and RSI bot passing through 60 and 30 respectively.
Buyout rumor is exactly that. Starboard has made to many enemies with bigger checkbooks than theirs. I am a buyer at 99 cents.
The news release boarders on violating the False Claims Act. Sheesh!
Joe, We didn't do the hedge fund due to all of the disclosure requirements and massive legal fees. It was significantly more than we ever thought it would be. So, we just do the same thing we have always been doing, buying up undervalued equities with huge short positions.
I have never left AIS as a shareholder even though I sold a majority of our position on the last run up in July 2011 to 5.00. Bought back in on the pull back in the mid-3 range. The stock could go to zero and we wouldn't lose money on the trade.
My biggest gain by dollar value is FOE, which we have now sold most of that we bought in November of last year in the high 2 range. Sold all of my OWW on the Pop. Played DNDN, APPY, VLO, VRNG, BV and a few others for some smaller trades. Lost a pretty penny on DRYS. Played that all wrong and lost money on the long and short.
Biggest holding now dollar value is AK Steel, which I began buying high 2, low 3. Biggest position biggest number of shares, GTXi.
AIS is no longer one of my monster holdings. At one time it was spooky the number of shares I owned. Very moderate holding now. I am buying 10K lots here and there and tucking away for a rainy day. If there is a bear raid, I will step in on the buy side and double up.