Trouble is coming. Never been in a stock like this in over 30 years. And I have been in the market well over 3 decades handling my own account essentially the whole time, and I have never been in a stock, that I know of, with a serious short squeeze likely outcome. And fwiw, I have had years where I have done well over 100 million in trades, and also fwiw, these were all bad years. You trade this much and you are a major loser...my bad years, btw
This is because short squeezes are highly unusual. Yesterday 31% of the volume which was around 13 million as I recall, was short. Well over 4 million shares. Currently here are the numbers I just got from updated daily short squeeze ...DOT.....COM.
hort Interest (Shares Short)
29,700,000
Short Interest Ratio (Days To Cover)
6.7
Short Percent of Float
7.17 %
Short % Increase / Decrease
7 %
Short Interest (Shares Short) - Prior
27,850,000
___________
WHAT THIS MEANS IS THEY ARE GRUDGINGLY INCREASING THEIR SHORT POSITION, but it is really getting to be crunch time for them.
They have been losing now steadily for the past several months amazing amounts of money. People short at 60 cents have probably been wiped out, if they had a 30% position, and one of the reasons why is this: Shorts are very stubborn and arrogant. They are not like longs. They think they know it all. And here is what is really screwing them big time: THEY HAVE BEEN RIGHT....they have been right about this stock and company for a decade now....They have been so very right and have made a fortune. ............and now of course, like Rip Van Winkle they are complacent, serene in their belief the past will repeat. So the higher it goes, they continue to add.
The problem is NAK is not the same company it was even six months ago, let alone a year or two or three years ago. Everything has completely changed.
So right now, these Rip Van Winkles, ever so arrogant, are waking up and starring down the gun barrel of a shot gun. Like somebody in a trance of drug induced state (think mushrooms), they continue to add, not really seeing the future, which is this, their nightmare:
1. a FEIS in a couple weeks which will be like a dinner bell to major precious metals longs, huge fund money, and the global miners themselves. Yes NAK IS NOW IN PLAY.
2. THE ROD in about 30 to 45 days, THEIR DEATH KNELL. Another major jump in the stock, another diner bell to serious deep pocket precious metal funds.
3. The continuing gold bull market, which like a young 1 year old colt in the pasture, with great genes, is just now starting to stretch its legs.
4. Here is their nightmare on steroids, Freddy Kruger and Jason combined: "We are in discussions." ...management wrote this in the recent SEC filing......Interpret: we are in negotiations, with one or more majors. What, who knows, a partnership, or a buyout in whole or in part, a major streaming deal, one or more of the above choices.....Clearly Ron and management is soft peddling this. But this is the Ace of Spades.
Shorts are like a drug induced, drowsy emperor, barely coming out of it.......How are they going to get out?.....their belief in some sort of denial or even a delay has the odds of slim and none, and slim just walked out the door?.
they will drum up, and we can expect, a couple fake news articles on rags like seeking alpha. The shorts recently did a number on Novagold, so you can expect something like that here as well, since the same guys short that stock no doubt, on god's green earth, have a sizeable position here as well. They will do the social media thing, hope that gold is at a temporary top.
but even if they are lucky, highly doubtful, they will use any move lower to cover..........They are stupid, but not insane. The cards and fundamental events now are being dealt up in this poker game, not down. They will be gradually waking up from their slumber of ten years here soon enough, and then we will see a short squeeze when these announcements hit then news wire......
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