The shorts got in deep at $8.00 last summer and fall and obviously with mounting losses, they had no choice but to double up, wait for heavy margin buying and then put out a "hit piece" that would esult in accelerated margin selling. Now they can cover for a break even and move on. They didn't win whatsoever, but were able to escape unscathed and it is what it is. Ping Luo's (Global Hunter) already called all of CCME's advertisers and bus operators and we all know who audits the books. We're fine .... totally fine. We've just witnessed forced selling because people bought the stock heavily on margin and thus the "hit piece" resulted in a greater effect .........
"At first, Joe, I am okay; I am 30% in cash and my silver, gold and oil shares pulled me into green yesterday. Yet, this CCME situation bothers me A LOT, for several reasons. The issue is that there was an incredible amount of SHORTS, not too many free shares available for shorting, and SHORTS displayed an incredible conviction and willingness to take the risk. Why was that, without any hard facts available for their case? Even YOU were expecting the squeeze of the century, the shorts destruction, right? CCME was on the List for about 9 days already... Then, I think you were the first one here to realized that shorts were not covering (thanks for that post), and they didn't, as if they all would know that the hit piece was coming. So my question is this: Was it because the shorts have bigger balls as you said, or was it because they "knew" it's coming...?"