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Alias Born | 02/15/2012 |
Wednesday, April 18, 2012 3:21:57 PM
If you had shorted 50mil shares...what is best way to cover your ass? Well you buy 20mil shares as well to ensure you can control price if something happens.
Which is what happened....this will go through the roof sooner than later.
It is a bummer for all us Longs without the deepest pockets to watch this happen. Nobody knows how long this will last either becuase we don't know how many shares he's holding - My gues from earlier is about 24mil.
He is playing this very well. He's essentially holding the price down and then selling (and usually NOT to the bid, but in the gap they keep creating)....he's selling to himself for the ride up!
I wish I had enough money to sit at the top of the bid.....BUT I DONT.....so I will buy and accumilate at different ranges as they come. I have more shares than I really wanted, but sometimes plans change.
I WILL NOT SELL! I WILL ONLY BUY! I advise the same to all LONGS!
Sorry I don't have enough money to push him out of the way and start his Buy to Cover PANIC BUTTON. Hopefully someone will come along soon!!
All theory and IMO.
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