Ackmans average price is right around $50 or the very high 40's. This does not include the 6 million in dividends he had to pay out every quarter or the high costs of borrowing the shares to short. I would say he is under water right now.
We just witnessed the beginning. I spaced my sells out on the way up but with no news I thought we would drift back. This has legs. I think more room on the upside tomorrow, shorts will be getting more margin calls.
How much do we go up tomorrow? Shorts are going to continue to get margin calls and others will give up. A 10% move in one day is enough to scare even the most seasoned trader. Another 10% tomorrow will hurt even worse, this is what a short squeeze is made of.
I NEVER sell an entire position at one time especially if it is climbing. I sold at $46.50, $47, and $48 today. I will buy back on any pullback like I did when I sold 60% at $39.50 and $39.75. Bought them back between $36 and $37.50.
We may not get that pullback, this is starting to feel like the real thing.
This reminds me of trading the day that Icahn announced his original position. Something like a 5% move during the day and then 20% ah's. Starting to feel like that.
Sold 25% at $46.50
next 25% at $47.00
next 25% at $48.00
Funny how were all BAGHOLDERS all the way from $35 to where we are now. I'm laughing all the way to the bank....... hahahahahaha
New auditor? 7% move and nothing, don't get me wrong, I love the gains but I would also like to know what somebody else knows so I can make an educated decision on whether to buy or sell. Please share with the rest of us what is going on.
You remember the abusive BASHER who shorted at $38 and then again at $41. Seems like he has a size 13 shoe in his BIG MOUTH. Couldn't happen to a nicer guy.