If you truly believe there are 700million shares shorted, then you’ll set your sell order for $10 or higher and leave it there. I don’t know that there are or there aren’t, but I’m 100% sure that 700 million shares won’t be hard or take long to cover and will be covered LONG before $1. Why? Because everyone who’s got dollars in their eyes has been holding for YEARS and is ready to sell. And when they see the account value at $50k or $100k, it’s going to be reeeeeal hard not to hit the sell button and get out with hard money. A bird in the hand sort of thing…. 95% of all those people who’d rather pay a car bill than buy an island like to TALK about holding, but at the end of the day they they don’t have the spine to do it. That island is a pipe dream; the car bill is due next week…. It’s human nature. And I suspect that, because of them, any naked shares out there will be absorbed by the time this hits .25. After that, it’s running on hype and hope.
What I’d like to see is a spike from a short squeeze, followed by a spike from excitement and greed, followed by a press release announcing a huge contract or merger, followed by more greed and excitement.
I have a VERY small position that will be sold early to cover the principal. After that my million(+) shares are currently sitting at $7.95 and may be raised or lowered as the situation warrants. They will be free shares so I am holding them until they are worth at least $5 million after taxes so that I can tell my boss to piss off and live off the interest of my account.
Good luck to all and try to force those shorts to buy high rather than caving in early like I’ve seen soooooooooo many times. If the Canadians and foreigners wanted to become MASSIVE millionaires, they would run this up to $1 before the CE drops off. Come Tuesday, we’ll see who the true “longs” are and who is only talk.
