RE:Declared shorts versus undeclared shortsJVrocks wrote: It is difficult for most people to declare a "legal short" on a penny stock....not impossible but not many firms offer the service and the requirements are stringent.....undeclared "illegal" shorts are a different issue....people can sell stock that they don't own without declaring a legal short and then wait until the brokerage house demands that they flatten their position (usually at month end if the trader has a track record with the firm)...this happens a lot more than you think and is the reason why the "real" short positions are often much higher than the declared short positions....so how does this apply to AFI at the moment? ....there are 8 more trading days until month end....that means the undeclared shorts will have to start covering in the next few days...this is typically not a bid deal unless someone decides to start buying to create competition that that the undeclared shorts would not be counting on....this is a "oh cr*p" moment for an undeclared short......I heard a rumour this morning that a big buyer was going to show up later today with the intention of buying a million shares in the open market this week...unlike so many false rumors, the buyer did show up and purchased over 200,000 shares this afternoon (thank you sir).......we also saw RBC add another 200,000 shares of buying today...this is the first REAL buying from big player...if I was an undeclared short tonight, I would not be a happy camper.....we could make things a little more uncomfortable to the undeclared shorts is a group of us jump on the bid at $0.48 in the morning for a million shares (not as impossible as you think as all it would take is 100 shareholders each going on the buy side for 10,000 shares)...if you think buying here is too much of a risk, it probably is for you.....however, take a look at the 150,000 bid at $0.45 and the 70,000 share bid at $0.46 that showed up this afternoon if you are afraid you are on your own....imagine the posts we would see from highrider and his posse as the bids started moving up....I have nothing against highrider and his posse personally but seeing AFI rise up to the sixties in the next day or two and then continue the trend upwards as the announcement of the "big deal" approaches and we close in on month end would give me a certain degree of satisfaction that I'm not proud of
Another big load of cr#p by JV. You go ahead and put in a bid of a million shares and a lot of "stuck" longs will be grateful to you for getting them out of their misery. The NR today about providing real time streaming updates about the company every week is at best laughable. It tells me that they are running out of ideas to keep longs invested and see the coming crash ahead. Technically, the share price closed lower than last business day closing, so the trend is still down. You know what they say about a falling knife and this one is still falling. No matter how you pumpers spin this, smart money has moved on and not likely to return. See you in the 30 cents range tomorrow !! LOLOLOL !!