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+--- Thread: Shorts are Cornered and Desperate... (/showthread.php?tid=3724)
Shorts are Cornered and Desperate... - johnwgrant - 05-24-2013
According to Interactive Brokers, they have 7,000 IOC shares available to short.
Nevertheless, the shorts are shorting like crazy and pushing the stock price down... When will they realize: "When you find yourself in a hole, the best thing to do is to stop digging ?"
New short interest is out after the close today. It will be interesting to see where we were about 2 weeks ago w.r.t. short interest....
RE: Shorts are Cornered and Desperate... - TxPm - 05-24-2013
I agree the shorts are gasping for breath this morning. I'm hearing that short interest is only going higher
RE: Shorts are Cornered and Desperate... - johnwgrant - 05-24-2013
We are about 20 minutes into the trading day and volume is over 800,000 shares.
We are down about $6 from where it OPENED this morning !
Ya - that makes sense !!!
This news is so bad, everyone woke up this morning and decided to sell...
Welcome to Wall Street Games & Manipulations !!!
RE: Shorts are Cornered and Desperate... - ellerslick - 05-25-2013
'johnwgrant' pid='22987' datel Wrote:We are about 20 minutes into the trading day and volume is over 800,000 shares. We are down about $6 from where it OPENED this morning ! Ya - that makes sense !!! This news is so bad, everyone woke up this morning and decided to sell... Welcome to Wall Street Games & Manipulations !!!
Just watched it go negative, welcome back to the manipulation. Just unbelieveable.
RE: Shorts are Cornered and Desperate... - jft310 - 05-25-2013
We have no price per mcf and this may just be an offtake deal so far. I was told more deals to come. With Exxon ??or someone else??An offtake for just NG is still quite bullish for IOC as they keep the liquids for the refinery.Plus the cash for the gas
RE: Shorts are Cornered and Desperate... - Getitrt2 - 05-25-2013
Not just offtake. PR said Exxon will buy an "interest" in PRL 15 and fund further development of it, and possibly also participate in a separate LNG project, at IOC's option (interesting, and raises a lot of questions... like, another partner?).
RE: Shorts are Cornered and Desperate... - jft310 - 05-25-2013
Until we get details we will have this volatility.
Please tell me when you own a refinery and are paying WTI price of $90 a barrel for feedstock and you reduce that with your own condensates to $10 hows that bad.? Even if IOC sells the condensates for $30 the PRE contract price to someone else thats bullish if your cost of goods is $10.
Further today we are getting zero for our NG and Exxon can pay $3 easily which also is cash flow for IOC . Today we are trading at 90 some cents per mcf. So 3 times the current price. Again bullish.
All in 2 years or so.
RE: Shorts are Cornered and Desperate... - CesiumFormate - 05-25-2013
It is a lot less risky for the shorts to sell now and leverage the money by buying long calls. I expect that is what is going on. Eventually the price will up move because once there are no shares to short, or they have to deliver on naked intra-day shorts they will have to/want let the price go so they can collect on their calls.
I have not analyzed the Call contracts today, but I suspect that is what is happening.
CF
RE: Shorts are Cornered and Desperate... - tarulestheday - 05-25-2013
'CesiumFormate' pid='22994' datel Wrote:It is a lot less risky for the shorts to sell now and leverage the money by buying long calls. I expect that is what is going on. Eventually the price will up move because once there are no shares to short, or they have to deliver on naked intra-day shorts they will have to/want let the price go so they can collect on their calls. I have not analyzed the Call contracts today, but I suspect that is what is happening. CF
CF: The call premiums are up slightly but I think that is just the IV given today's crazy trading. I don't see the shorts buying up the calls in volume.
If today's trading doesn't tell you that the company should be sold, I don't know what else would. Oh yea, when the stock sells off on high volume on the SD news, THAT might finally convince some longs that the company should be sold. The shorts can naked short a million shares per day as long as they cover before the close. A total buyout is the only way IOC will ever see fair valuation.
RE: Shorts are Cornered and Desperate... - admin - 05-25-2013
'tarulestheday' pid='22999' datel Wrote:
'CesiumFormate' pid='22994' datel Wrote:It is a lot less risky for the shorts to sell now and leverage the money by buying long calls. I expect that is what is going on. Eventually the price will up move because once there are no shares to short, or they have to deliver on naked intra-day shorts they will have to/want let the price go so they can collect on their calls. I have not analyzed the Call contracts today, but I suspect that is what is happening. CFCF: The call premiums are up slightly but I think that is just the IV given today's crazy trading. I don't see the shorts buying up the calls in volume.
If today's trading doesn't tell you that the company should be sold, I don't know what else would. Oh yea, when the stock sells off on high volume on the SD news, THAT might finally convince some longs that the company should be sold. The shorts can naked short a million shares per day as long as they cover before the close. A total buyout is the only way IOC will ever see fair valuation.
Well, where did all that shorting the last five, six months got them?