I think with todays strength following Friday's strength at the 8.20 level led to some serious short covering today. It's very obvious that REAL buying is going on by the company. When they keep pounding a level and can't move the stock, the smart ones started to get out. It will be interesting to see the next short report, as well as to see if the company continues to up it's buy levels. In a way, I'm glad they're upping the bids a bit to push shorts further and further, but at the same time, I'd like for them to be able to buy 3.5MM shares.. That would be a nice PR at the end of next month, just before earnings season. Whoever they got to do the buyback is probably spreading the good word as well that this company is legit and they're putting there money where there mouth is.
As far as being worried about lowering the float because institutions can't get in, F them. They have had all the chances in the world over the last few months to come in and buy the stock and lock this float up. If they aren't willing to do so, then the company should buy them instead. I am not the least bit worried about the institutions at the point. They'll be buying this thing at $20/share and wishing that they bought in earlier. Also, it's not going to hurt the stock nearly as much for the company to sell some of these shares back when we're at a more reasonable level, as by then, the charts will look great and people will be glad to get there hands on such a strong up-trending stock.
AI
