Chiugray - what I meant by the collaboration plan not working was that we probably shouldn't put our shares on a limit sell as it won't help push out the shorts. And if, by some miracle, one day we wake up to see the stock at $100 (or more) :) - then those longs who had put in a sell limit of $70 on their shares would be sold-out of a position they may really not have wanted to sell out of at that time.
The only way to really short the shorts is to not borrow funds in your account - then your shares are not available to the brokerage. They can only "borrow" your shares if you are borrowing from them. Borrow one dollar from them, and they can borrow ALL your stock shares. The other thing we can do is to buy more as the shorts "sell".
And, if we should experience such a delightful morning, should LTT have sold his position at $7 that day, or the day before, etc., and the share price just continued to rise, he'd have no choice but to buy the shares to exit his position. And he doesn't really "buy" the share. He first sold at $7, then he waits for the stock to drop to say, $6 - which is when he "buys". But he doesn't really "buy", he is just exiting the position - and in this case, with a profit of $1 per share. I'm not sure, however, if LTT is actually shorting the stock, or if he actually owns the stock and then he just sells his stock when it hits $7.
However, if he did in fact short sell at $7 (again, that is the first thing you do in a short - sell - not buy) and then the stock kept rising, and rising, and rising -- at some point, the short would either have to "buy" the stock at whatever price now available to exit his position, or hold on to that "sell" position and hope that the price of the stock drops back down - below his "sell" price -- or closer to it. Depending upon the collateral the short has in his brokerage account, the short can hang on to that position for a long time - paying interest on it to the brokerage all the while. Because if he "sold" (shorted) at $7, and the stock is now at $30, the short is praying to all the gods that the stock will come back down sometime - sooner rather than later. And if LTT sold shares at $7, he is swearing at all the gods that he did and jumping back in wherever he can.
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