Anything is possible re share price but, provided we don't get a major negative world event, I just do not see this hitting the 70's. Put simply, there is not the short interest to send it there as they run the risk of getting smacked to the upside on any rebound. All IMHO.
If you take a look at the stocks that are getting really hammered (CPL, DTE, NMG, etc) the prices are getting hit because of large short sells.
As of 18 June, total shorts have fallen to 5.1 million. Despite 2.4 million new shorts that day, 2.86 million shorts covered. The SP that day was between 0.935 and 0.97.
You could see it today. There were a lack of committed sellers and it bounced off 0.85 convincingly for the rest of the day.
ost charts & thoughts - june 2012, page-46
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
