General Growth Properties Inc. (GGP)

[justthefactsmam]

hard to believe it was just shorts but i thought i saw a post from a number of days ago saying, based on daily trading volume, it would take 6-8 days to clear all shorts. today's volume was 6 times daily average so maybe a good deal of it was the shorts were running to cover. with about 330 million shares outstanding and ackman and the bucksbaums holding or controlling about 150 million of those shares, that would only leave about 180 million shares available to trade. today's trading volume amounted to 25% of the "tradable" outstanding shares.

even if general growth were working on some type of a deal, they could not say anyting and if fact would be required to say everything or nothing. don't think they had any middle ground in which to operate to answer the nyse's inquiry. while it may in fact be nothing, based on the volume, i would have to think along the lines of "where there's smoke there's fire". purely speculation on my part but something has to explain that hugh volume.

again, looking at 6-8 days average trading to clear shorts, wouldn't there have to be 90 million shares traded to clear 45 million shorts. presuming that only long holders would have been selling (profit taking) which provided shares for the shorts to purchase. am sure i am missing something here but today was really a wild ride. can't wait for tomorrow.