A ballsey bet, but has to go below $43.91 to make any $$
Market indicating down, but a bear hug is tentative at best and this trader may take it in the shorts
I've been caught in that trap before. Either cover or pay outrageous interest to pay for shares borrowed from another broker.
I am unsure if placing a GTC sell at very high price on long holdings will add fuel to the fire. Anyone know?
Methinks this is not a real squeeze - just shorts recognizing they missed an opportunity to exit over $3 ago in pre-open trading.
When this is really squeezed, the shorts will be squealing like piggies and won't find it easy to find an exit as it will be like someone yelled "fire" in a crowded theater. A double-digit pop up on the squeeze wouldn't surprise me, followed by margin call related aftershocks for the next few days.
actually, it was down over 5% pre-open and has turned green.
Shorts missed a great exit opportunity pre-open
in teh green it is!
Shorts missed a great exit opportunity pre-open when it was down over $3 - now the line at the exit will build and when HLF is exonerated the squeeze will be monumental.
Already up over $2 from its 7:53 EDT low this morning.
Just watch it churn and turn upward, perhaps even move into the green, after the markets open.
The exit door for shorts began to close 2 hours ago and may slam shut when the markets open.
Could be MMs trying to cash-in at expense of weal holders.
I tried to buy a few thousand shares but just kept pushing the bid up. If any shorties (not a derogatory term as there is nothing wrong with betting against a bloated stock) had conviction, they would be chasing the bid down.
Shares are already up $1.50 off pre-open lows (that was the time to buy) and I wouldn't be surprised to see it move into the green after markets open.
The only "news" is that it took the Feds this long to talk with HLF members. That would be an expected part of a routine investigation. Could be that the main thrust of the inquiry was to nail Uckman on the stock manipulation charges?
Expect something from Govt before open on Monday.
Buckle your seat belt because the acceleration will be severe and the rush for the exit will squeeze the shorts to an extreme.
The bloodbath will continue for days as margin calls destroy the shorts and propel the stock to crazy levels. Only then will the smart money short.