When the Shorts CoverI hold a lot of UUU. (my second largest holding next to GAM). It has been heavily shorted by funds hedging/speculators betting on the ARMZ takeover not passing Congress,bla,bla,bla.
They were kinda forced to cover today due to Cameco's big news and the stock jumped huge.
My point is that GAM has a heavy short position and when this deal with Capitol closes{and it will} Shorty will be forced to cover and if there are no net sellers they are gonna get a pounding.
No volume today and no sellers. The writing is on the wall.
I'm holding until the deal closes and I will sell into that strength. i suspect it will be around 8.50
GLTA longs