GREY:STPJF - Post by User
Post by
rehsifylfon May 26, 2010 9:14am
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Post# 17131549
Should be an interesting Day
Should be an interesting DayBased on the volume below $1, I'm not sure that many of the shorts will have closed out. Clearly, much of the volume was back and forth, so tought to guess what the real volume was, but I suspect fairly low.
The only people shorting below a buck, were the also rans, and I expect they'll try to close out positions quickly. Day Traders don't do much better shorting than they do going long in my view. The smart longs had the inside dope on the offering and shorted between 1.35 and 1.15.
The real play her, and lets be honest, the dollars involved here are pretty small compared to some other stocks out there. Can't see this staying under a buck today. If you were "dumb" like wdr and I and purchased more at .90 - don't give it back easily, just because it pops to $1 today. Next year you'll be kicking yourself for selling @ 1/3 of the stock price you could have had just by waiting out the sillyness.