OK...there is this guy on another board that I watch...who is really very very good with the charts, and he often wins the stock contests each week, with his picks, because of it....it was his statement....I have been watching his posts, purposely, because I am learning stuff....so here is what ELSE has come out in the 'discussion"...
Yes it is tru that people have moved in and out of this stock..and made a LOT of money on it the past 2 weeks, or so...but today is different. Forbes came out with the 'approv-able' story this morning, on Provenge...two things happend....
The price dropped exponentially almost immediately as the longs sold off...the longs I am familiar with had been moving in and out for the past 2 weeks, so really did not care that they lost money today--in the long run, they made out pretty good....but he was referring to those that had shorted the SAME share of stock over and over and over...thus creating shares that were not there (hedgies and the like), if they needed to cover....thus there is a HUGE gap...that has yet to be filled, or even narrowed down...and no doubt, there are some margin calls that need to be dealt with, as well....
IMO, he was highlighting the fact of the manufactured shares...created by those other than retail....like you, or me. Last I looked, there were 130 mil shares traded today, and still with that huge gap....SOME trading house has no doubt, taken a big hit today....
MM's probably swapping shares back and forth between them, too.
AI
