From Sparky: Monday 03/22/04 8:30 am cst
SPARKY'S IN COMPLETE AGREEMENT WITH ROATAN2!
If you watched UGMI trade last week, you've got to seriously doubt that all the selling we saw in the 15-17 cent area was actual selling.
With volume as brisk as it was, true sellers could have gently backed off and easily received 18-19 cents. And it's been Sparky's experience that sellers don't generally like to leave any pennies on the table.
That said, Sparky thinks that what we saw last week was an obvious spate of naked shorting.
Now one's got to ask the proverbial question, WHY?
Aside from greed as usually, Sparky thinks that those who were shorting last week were actually trying to protect much larger existing naked short positions, ones that were no doubt created in the 17-20 cent range last October & November..
If this was the case, and Sparky really thinks it was, then the same investors who shorted last week will be competing with new investors this week - which should create some real volume and much fun. We shall soon see who's right.
What a cesspool this can be sometimes!
Sparky
