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Re: vp2112 post# 11255

Wednesday, 07/20/2011 4:54:24 PM

Wednesday, July 20, 2011 4:54:24 PM

Post# of 21457
Not a problem Vp! That is a good thing

I will try to explain,

The only people that are Bid Whacking, are people that are selling their shares Short by calling their Brokerage to lock in their position. their brokerage has to buy shares back to cover these positions. That would be a problem if this stock was down, but because this stock has gone up, everybody who sold below the current PPS is going to have to buy the shares at the ask to cover their short position.

Basically it's backwards, the price they sold for by selling short will be their sell price and then when their brokerage buys to cover their short position that will be like their initial purchase price

example, they sold short at .0008, when their Brokerage buys to cover their short at .06, they will owe their brokerage the difference between .0008 and .06

It will be like they bought at .06 and then sold at .0008! Multiple that by however many shares they have! Allot of investors will have a big problem soon

You will benefit from this because when brokerage is buying to cover, stock will go up very quickly

GLTU, JMHO, But it's a good one
Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y