Wow, that's wild. Recovered half way, and stalled...
Looks like a fairly typical 'dead-cat-bounce' ,
unless longs keep buying, and even faster,
now that the shorters are returning from lunch break.
What is interesting is that the shorters put in market sell
orders, that go to the highest bidder. But, the longs
are trying to buy 'cheap shares' , so they keep lowering
their bids. So, the longs are actually helping the shorts
take copi down.
Expecting to dive below .050 today, and possibly close
below .040 , especially if the longs keep wanting cheaper
shares. And, when they run out of cash, and quit bidding,
the 'bear trap' snaps, and the shorts cover after a quick
plunge to .035 - .025
We're not that greedy, or risky. Besides, we shorted
all we wanted at .071 and higher. So, we cover at .035
after a super-quick double.
As to the amount, let's just say this.
The commissions were over $500
And, we will have no trouble covering,
not that the volume has tripled.
A surprisingly perfect short storm.
Thanks to the advisor, and friend.
The only question is, how many longs will sell quick,
above .050 , and buy back twice as many at .025
Averaging-down is profitable, for shorters, only.
