Avid Bioservices Inc (CDMO)

[Protector]

jbainseky, the amounts make me doubt. 500+300 is 800K shares at an average of say 0.67$ we are talking about 536K$ that came in cash on the account versus 800K PPHM shares short.

So each cent cost/brings 8000$. I am not saying that there are no beginning traders with that depth of pockets + margin x2 to x4 (in the non-pro world of course) but it is a lot to put in one instrument.

A second thing that makes me doubt is that it was poorly executed. I could have told him/her up-front that wasn't going to work. They dropped AT THE OPEN and your first drop MUST be a win otherwise you'll run behind until you can close the position, whenever that is, and may be lucky with a break even.

So there are only 4 ways to win with a short positions IMO:

1) Coordinated short, be first and make others short
2) Short and hit the stops and let the sell volume drive your price and close.
3) Short because you expect an event that will trigger selling
4) Short HIGH VOLUME UP-PEAK because MM will have to come down partially to close his intra-day position.

#1 is illegal, #2 is what I think today attempted and failed, #3 is what we see on expected news, #4 fails if the sell volume din't come from the MM but from profit taking longs.

Combining 1,2,3,4 at the same and right moment may get you a home-run. Plenty of people start shorting, they hit the stops, they started on a good news peak and have the market maker on their side in the down direction.

AIMO