GREY:SXRZF - Post by User
Comment by
tillbillyon Feb 20, 2011 9:53am
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Post# 18166137
RE: shorts have turned the corner
RE: shorts have turned the cornerA lot of those short covers likely came when she broke 6.50 on the big push to 7. The way the bull was pawing the ground would have frightened anyone, and the short covering helped push the price up (Short Squeeze).
I'm still holding long because I truly feel if we get a spike up on financials you will see the rest of these shorts do the same squeeze. This....to me...is what makes UUU interesting and why I have more of it than I probably should...given the down-trend.
I have no doubt that your 5.50 call would be correct (and then some) by now but for shorty's slowly filing to the side-lines.
That bounce from 5.89 to 6.19 was exactly what I'm talking about. I was gonna bail at 6 but changed my mind due to the reality that this trade will work over the next 6 months.
I'm short Silver on a lever as of Fri close with a very nervous tite stop.
One of your post's indicated you were short NatGas (HND)? I'd be sure to have a stop their as well(IMO). Seriously? how cheap can it get?
Best of luck and yes V-rod LouE is at least 85% right if you have been following his posts...
Glta.