Reconnaissance Energy (Africa) Ltd RECAF

Shorts?

[judomacca]

I can't see shorts in around $3+. I think it is closer to $10. I simply think the $3 figure coming from experienced traders is all fluff

[Yolostar]

not so sure....i think when RECO first hit 5$ and then investors took some profit, the shorting began in the 4s and 3s.....then the surprise early announcement of the Petroleum system on April 15th, shot the stock up from 3.50 to around 10.40 by the Monday after, and that's where the shorts got hurt badly....

[judomacca]

I beg to differ. When RECO hit $5, it kept right on going up to over $8 the same day on April 15 and never fell bck especially into the $3-$4 range. Probably there really are not shorts  in the $3-4 range- possibly in the $8-9 range. It wouldnt surprise me if there were people out there who saw a good thing and are now trying to drive the price down so they can pick up cheap stock. Why not

[Yolostar]

that's not what i said....the short action was when it first hit 5$ in January....the stock at one point came all the way down into the mid 2s for a day, before settling at around 3.50....then on Thursday April 15th, it went from 3.50 to the mid 5s, then by Monday it hit 10.40 before being shorted again back down to the 6s ...the big loss for shorts came on the jump from 3.50 to 10.40...and

[judomacca]

Yolostar I still beg to differ. The shorts did not start to pile up untilafter RECO announced their discovery in April. Before that it was not even on the radar

[Yolostar]

I think the shorts did start to pile up that early....for example.....the stock hit 2.44 in December, then briefly found its way all the way back to 1.30...then the slow climb back up, gaining momentum all the way to 5.00...then back down again...the only massive increase (300%) was feom the 15th to the 18th of April, and i think that's what hurt the shorts the most...

[Yolostar]

....but Judomacca you are right that the shorts are terribly afraid of the next jump to 20 and beyond, because their massive losses would now become astronomical....