Replies to post #29929 on XpresSpa Group Inc (XSPA)

[Nolerman]

With reports on CNBC, DOW, WSJ, And just about every republisher on the web,...how can you justify saying that new buyers were not a major portion of the buying? I have a hard time believing that millions of shorts ran to cover on a .50 move when this stock has a long history of these violent swings in PPS and they have been in these positions from a much higher PPS (not under water in other words). My guess is no better than yours, but the facts just don't jive here.

[whateva77]

You are correct...jz wait till next week.

[grawsha]

'ive been had'
If what you say is true PPS should have been well north of $4. What happened was some MM's were "circulating" shares in certain PPS ares so they can cover small part of their shorts. So, the actual volume is no more than 1MM shares.
To know what I mean, look at last Oct's runup. Just before the runup short interest was 8MM shares. Then, two weeks later and some 160MM shares traded, short interest decreased by less than 1MM shares and the PPS moved nice 100%.
The idea is NOT all MM's cover. They take big chance/gamble and they usually cover when their shorted price near the bottom. Most MM's shorted at $5 and higher. So, they are in NO rush to cover.

[xlt leader]

You are wrong about shorts covering. For example I bought and sold 10,000's of thousands of shares 3 x yesterday(plus I know of a group of traders who did the same) and I am sure others did the same here. Your short covering scenario is simply wrong. Shorts still in profits, this will change once the price level gets to around $3.50 plus..$3.47 is the 200 moving average a break above there will catapult this to $4 plus...