Luminent Mtg Cap Inc (fka LUMC)

[leebret]

Hang in there shorts starting to cover, many more to go.


Short interest on Nov 15th was 12,329,273;

Short interest on Dec 1st was 12,534,000. So for the 15 days from Nov to Dec the short interest increased by 204,727.

The latest short interest on Dec 15th showed 11,834,900 or a decrease of 699,100 shares short, meaning they covered almost 700,000 shares in the last 15 days. In the 10 trading days from Dec 1st - Dec 15th there were 10 trading days meaning they purchase about 70,000 shares per day.

In a nut shell they covered 5.5 % of their short position while no one was looking and it had no impact on the share price. If anything the share price stayed the same or actually went down over the course of this small short covering. So, there were enough shareholders who gave up and afforded the shorts to "acquiesce" so to speak and at least start the process of covering. That is the reason for my fuming and I hope it burns you up as well. Unfortunately we on this board are only a small part of the whole group of shareholders.

Reasonable people can disagree, but I think the beginning of the acquiescence has begun. They still have 95% of their position to cover leaving lots of room for movement to the upside. Ironically enough the good news in the most recent 8k didn't come out until Dec 13th leaving only two days in the latest shorting period. We have no idea if they covered before, on, or after that news. The thing that irks me is the folks who sold to these home wrecker's and probably took a loss on their shares giving them the opportunity to cover and lock in huge profits.