"Shorts are scared. I hope they can cover. It is too late though."
There are under 6 million shares shorted on SGRE, so not a significant amount.
Having said that, anyone smart (and wealthy enough) to be short this sorry scam has no worries about covering. It will trade for a fraction of its pre-suspension pps in the weeks after January 14.
As a public service, here again is the only way you might recoup some of your losses on this scam (DO NOT "pull" your share certificates - that simply allows the insiders and IRPs to have less competition when they dump their free shares on the Grey market on January 14):
"SEC Suspends xxxxxx – Investors Consider Grey Market Options December 17, 2010 By The Our-Street Team
As we predicted, the SEC stepped in this morning and suspended trading on xxxxxx) crushing the hopes of even die-hard investors. Over the course of the next 10 trading days, investors who failed to heed our warning will consider their options for when the stock can resume trading on the infamous grey market. Having witnessed literally many hundreds of trading suspensions over the past 22 years, I will share with you, my readers, a secret grey market trading tip that I has never, to my knowledge, been revealed anywhere else.
You see, there’s going to be one final opportunity for a few shareholders who got caught by surprise by the trading suspension and didn’t get a chance to liquidate over the past few days. These would be the folks who were trapped in a mine somewhere or climbing Mount Everest and didn’t have access to a stock ticker with news. It could also be folks who were on a pleasure cruise on that river in Egypt. Regardless of how they got caught holding the bag, when xxxxxxxxxx stock resumes trading, there will be a few days where this short lived strength in the stock exist. I’ve dubbed this secret trend “Liquidating into stupid.”
Liquidating into stupid occurs when some shareholders, unable to accept the reality, actually buy more shares at the reopen in order to bolster their hopes that it’s all a big mistake and that things will get better someday. I’ve seen this occur over and over again and theres a good chance it will happen here too. This is demonstrated by an unexplained willingness of the market to absorb sell orders at prices that seem to the rational person to be too high. I’ve even seen cases where the stock actually trades briefly higher than it was when it was suspended. Naturally, the liquidating into stupid effect is short lived as the number of active buyers rapidly dwindles while the number of folks trying to liquidate increases so hesitation can be costly."
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