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Re: Seminole Red post# 40345

Wednesday, 01/04/2012 1:43:42 PM

Wednesday, January 04, 2012 1:43:42 PM

Post# of 77531
Yes this jives with what I said last month but I think it was glossed over by some. No one is shorting the stock. And if they are, they absolutely 100% have to cover the same day. The reason why short term (under 3 days) short stats are skewed and appearing higher is because a year or so ago the sec changed the way that buys and sells are reported. So there are days that you could have 5 M shares traded, and it will show the same day that 90% of those shares were short. But that is only an accounting/clerical stat used to record trades BEFORE they are settled. Once they are settled after 3 trading days, the real short number appears, which most of the time is close to 0.

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