GREY:SXRZF - Post by User
Comment by
JustLongon Nov 24, 2010 2:14pm
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Post# 17752137
RE: RE: Short postion :Where is the squeeze ?
RE: RE: Short postion :Where is the squeeze ?Consider about 50 mil shares traded in the last couple weeks.As the price rises,they short a little more.(like averaging down if you are long).The price has dropped about a buck recently so you cover some,wait for the bounce and re-establish another short position.The price went parabolic at the start of the month and the up was over about the 8th.
With the uptrend stalled/reversed,going short
is the near term trade.Most of /08 established resistance around 5 bucks(in rough numbers)which helps the shorters be confident this is a good area to short.Maybe they feel support around 3 bucks may come into play???Longer term it will be a struggle to see 8 bucks,but that could be a good target for the next up move.GLTA
JL