Earnings are coming out in a few days and word is beginning to leak regarding some good earning numbers. I feel to some extent sorry for the short hedge fund manager - he only has 20 million short shares to buy back
Yesterday at 10:00am, 58,200 shares were traded today at 10:00am the number stands at 22,400 shares traded. This is ready to run.
35.98 Days To Cover*****20,037,505 shares short (divided by) 556,854 todays volume=35.98 days. Ha ha ha ha...I hope volume is much lower tomorrow.
Over the past several weeks total daily volume is dropping or trending downward, while over the same time span, daily short volume has been increasing. A major short squeeze is the only result. The short squeeze could happen on its' own or be the result of positive news being released-but it is coming.
You probably looked down and thought that shorting was the natural thing to do given your lack of attributes.
This will fly when the market turns around a bit later today
A thousand knife cuts? Ha ha ha ha ha . Anthony, you posted this about 1 am. You must have been watching some scary movie at the time.
The days to cover number is a measure of how many days it would require for all of the shorted shares to be covered or bought back, given an average daily volume. If we look at only the past 5 trading days, there was an average daily volume of 1,280,320. 20,037,505. (divided by) 1,280,320. = 15.65 days. Meaning if were to be one positive press release regarding the company and a short squeeze occurred, then it would take over 15 days of buying at the ask, (with average volume) to cover all of those 20 million plus shares.
Maybe He has less control than I thought. His programmed trading throws 100 to 200 shares at the bid every 40 seconds to bring the price down. But what happens when that many shares are not enough?
a technical indicator known as Momentum went positive today at 102.31. THE FIRST DAY since the big drop from trading at $5.00. Can't understand why the short hedge fund manager would allow the stock price to rise toward the end of the trading day?