Mega Precious Metals Inc MPRXF

RE: RE: RE: Can it go lower???

[hrattle]

Yes - short covering does imply they believe it is near bottom. Most of these shorts were taken nearer the 70 cent price and a 25-30% profit in two weeks regaredless of how much lower it could go is enough for most traders. Taking a profit is what this is about - not taking the most profit possible.

In addition there are 2.7 million shorts yet to cover - so nearly 60% of the short position is still looking for a lower shareprice.