Dearborn Banc Corp fka DEAR

[UpstateChris]

The interesting thing is that most shorts are so due to technical reasons. Fundamentally there is no reason to short this one. As per the most recent earnings it has a cash value of about double the current PPS. Normally large short attacks are combined with blogs or postings (usually on Yahoo!) about how the company is a fraud or going bankrupt, etc. None of those would hold water for DEAR. My guess is people that are selling large blocks are doing so because they bought before earnings expecting a pop back over $2.50, that didn't happen, so they are taking their money elsewhere. Shorts are either unsettled day trades or real short positions that feel that DEAR will drift lower and they can earn a few % points on the technical pullback. While I agree that technically this is on a decline, I feel the reason is really the disappointment after earnings where there was no expected pop. After it falls back a bit it will do what it always does - pop up in typical low float fashion.