GREY:KXLAF - Post by User
Comment by
hrattleon Feb 04, 2011 11:15am
562 Views
Post# 18075717
RE: Shorts...
RE: Shorts...Unusually large short position Jan 15th did represent buying opportunity.
Red - haven't you got this the wrong way around? The short position established by Jan 15th were likely sales at prices above 34 cents (following in the example of the chairman of the board). Perhaps they rode their short position to the low of 23.5 cents on Jan 27th and then covered, closing their short positions by end Jan.
This would mean the time to buy was around 25 cents and that if the price goes back up to 35 cents we might see a new round of shorts.
Of course there is no guarantee a new short position will happen as news could change the trade.