It is my understanding that most of the shorts are convertible bond holder hedges. It is an arbitrage play that the big boys do. They are not really in a risky situation. Some may decide to cover, but it won't be a squeeze
Don't bate your breath waiting for a squeeze.
Reuters article just out -- huge delays in both loading in the middle East and unloading in China. This could make rates really pop. It could have a huge positive effect on FRO. Why is FRO down today?
The clowns that bring frivolous suits over actions like acquisition of JMI have had their injunction tossed out by the Circuit Court.in Baltimore. We should see SP growth as the price approaches the $30 book value more closely.
Sentiment: Strong Buy
I understand that most of the short are an arbitrage hedge by buyers of the convertible bonds. I am not sure how this works, but presume that the big boys may cover if they get an offer they can't refuse -- like the prices we are seeing now. Not a short squeeze driven by fear -- since it is a hedge against their convertible holdings, which are also increasing in value now.
Noted that they have launched Cefotan -- one of their purchases from AstroZeneca. This competent little company is executing their growth plans like they said they would.
Sentiment: Strong Buy
I kind of hate to jump into this discussion -- because I know it is futile. However, the Benghazi BS out of the right is ridiculous. There are about 2000 US dip posts around the world. Do you think the SecState is in 24/7 contact in each and every one of those?
I have recently been to Malakal, South Sudan -- visiting the #$%$-hole teaching hospital there. A few weeks later guys with AKs came in and shot 35 doctors, nurses, and patients in their beds -- just because they happened to be the wrong tribe -- no media coverage.
I've been recently to Yemen, where I couldn't go anywhere without two guys with guns. I've worked in Guatemala when I was required to travel in an armored car -- El Salvador, Mozambique. Pakistan, Somalia, etc and etc. The bottom line in all of these situations -- if the #$%$ hits the fan, NOBODY KNOWS #$%$ IS GOING ON for several days.
Have none of the wing nuts heard the expression "the fog of war"? (was that Clauswitz?)
Showed up in my account -- 33 cents per share, just like the month before that, and before that.
Thanks for paying me my dividend, shortie!