RE: The Short position and it's effect on negative you guys probably don't want to hear this, but I am not liking the current stock action and have grown more cautious going into earnings day. 75% of my position was sold at the open today. imho, we DON'T know with any precision what the short interest is right at this moment. if I had to guess, I'd say it is much lower than the MSM is advertising. the shorts probably trimmed their positions back last Friday and this Monday and could very well be keeping a modest bid under the stock as we speak. this apparent strength/stability could (?) be a bull trap. the chart is currently teasing us as it appears a major move either way is still a possibility. i'd say there is a greater than average chance earnings will comfortably beat the street (given that the bar is set so low). it is obvious what the outcome will be if the numbers are only in line or an outright miss. if the numbers were going to be of the blow out variety we would have seen a more convincing move to the upside by now as someone always knows before the rest of us. anyway, upon release of this telegraphed "better than expected" news the stock will probably pop above the 50d MA initially, draw in a bunch of new longs and then trade lower as the MSM talking heads begin chirping, analysts begin to parse the numbers and the shorts reload their positions. while I don't want to see it, I am envisioning a replay of last Friday's shenanigans where the stock did an abrupt 180' triggering all sorts of stop losses and catching the longs with their pants down in the process. if this turns out to be the case, the shorts will have another 3 months to validate Citi's price target projection.
as for the markets in general, there is scent of rotting flesh in the air. the bankster crooks are busy burying the bodies, however. all will be well again and nothing will happen to any of them. traders shorting this market will likely be added to the body count.
GLTA