RE: philip - shorting under $1.00Pinecone
Thanks a lot for your comment.
I meant there is NO new shorts for YLO as long as the shares are under $1.0. There are still a lot of short prior to YLO tanking down to the current
.78. I started to short it around $3.0 when the negative came out about last month and I was building up the volume. I was buying all to cover around 84 cents and turned around to buy shares at 83 cents and recently at 73 cents today. I got on the advice from GW to get some Preferred C and D series at $7.13 and I try to hang on to it until the end of June 2014. I like C because it is easy to get it cheaper but I would prefer to pick up D because of the maturity date 9 months later.
I am trading with TD WAterhouse and they told me that the current loan value for YLO is zero and they intended NOT to loan to their customers. It may change once YLO is poping above $1.0 again.
I think We need a new guy at the control because Marc has proved time and time that he is NOT up for the job. That is just my two cents opinion.
No NEW shorts, you say. So if a trader has been short YLO 100,000 shares from $5.00, when the stock price crosses under $1.00 then he is not forced to cover his shorts?
You can buy to cover at any time you feel like at any price even at 1 cent to close your short activity. If you feel like the stock will go to zero then why buy to cover now, right?