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Zuoan Fashion Limited Message Board

wheatvschaff 1 post  |  Last Activity: Sep 25, 2014 12:10 PM Member since: Jul 14, 1999
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    Short interest is now 11.7M shares (9/15/14)

    by ca_fisherman Sep 24, 2014 4:51 PM
    wheatvschaff wheatvschaff Sep 25, 2014 12:10 PM Flag

    Very surprised to see the short interest climb further after a 30% drop in the stock. Most shorts would have covered and taken the profit. What this means is that there are a lot of "committed" shorts who view the credit situation as continually eroding. If they are right, then the stock will go lower and shorts will profit more. But, if CONN can stabilize the credit situation, then institutional buying will return and these shorts will feel pressure to cover which will take the stock higher still. So, this stock has another 20% (at least) move in one direction or the other. Being up in a very bad market is a strong positive and looks to me to be the result of institutional accumulation. I think we will see a revised SEC filing or two in the next few days and then we will see who was the buyer. The "tug of war" is far from over, but it looks to me that CONN longs are going to win the next battle or two.

ZA
1.03+0.07(+6.91%)Oct 20 4:00 PMEDT

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