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Wednesday, September 20, 2006 10:33:56 PM
then we can determine how many shorts have covered and what the % is remaining, thus what potential upside in pps is.
Of course, this # will not include naked shorts which I believe is quite substantial. An earlier post said it well, that most thought the golden day was last friday 3T settlement, but, MM's can have longer than that to cover, and are using this downturn to do so. Hence the 4M share trade yesterday at such a low price. That trade was a definite broker trade to cover. Majority of trades were 10K-50K shares, and then this 4M sh trade shows up.
If nothing has changed, then the shorts are still needing shares big time and every day the squeeze tightens.
Best Regards
Not a buy or sell recommendation.
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