RE:RE:Shorties burnt to a nice
Short sellers who don't cover now don't know how to trade. The short thesis is exhausted. The Full Reversal is almost guaranteed unless gold falters but it seems steady.
The short leaders Muddy Waters update is from May 2017. They are on to bigger and better targets. Expert shorts don't fall in love with their trades and from all indications Muddy Waters appear to be up there in expertise? What's the next hedge fund name? FUD (fear, uncertainty and doubt)? How about "Smoke Screen" or "Smoke Scream"
Hey Pro! as you call it "The Scream Machine"
Don't be surprised Muddy Waters covered Aug 4th when the stock when from 99 cents to $1.13 on over 9M in volume.
As to the losses of not covering now, imagine having had a paper gain of say $100K on the books a few days ago and you're now sitting with just over $50K. Don't underestimate the burn here for short sellers. Some of them know how to trade but many fall is the same greed trap that longs fall into.
SHorting here is very dangerous, a Chinese take over of this mining operation can make this shoot up double overnight. So that $100K gain now ends up $25K?
The most recent descend were institutions funds window dressing for year end tax selling. Yes, momentum shorts played a role but you can bet they have covered if they looked at the tape.
The beauty is most big trades are now on vacations and we just end up picking up cheap capitulated paper here. This is when it pays to be a small, nimble player.
Thanks PRO for finding this one. I'm trying to see if you followed anyone else here but it looks like you lone wolfed this one? How did you find it?