Do the Shorts Start Covering Today 01/02/13 ?!?!

[johnwgrant]

I've got to wonder how the shorts (unless it is part of a hedged position) can keep their short position on....

"Promptly" to me means that PNG agreement and the final Sell-Down and Partner deal could be announced any day...  (even though these will probably be on separate days with a 3 week time-lag for the partner announcement).

Thoughts anyone ?

[trans]

I would be careful in judging the short position here. Imagine yourself a short, i'd keep my short position, but be offsetting it with a bigger long position against it. That way longs would see me not covering my big short, but in the background, I actually may be by building my long vs my short.

[sfiaes]

"I would be careful in judging the short position here. Imagine yourself a short, i'd keep my short position, but be offsetting it with a bigger long position against it. That way longs would see me not covering my big short, but in the background, I actually may be by building my long vs my short."

What? You can't have both ways.

We are up $4 on light volume, that says to me there are no more sellers, only buyers including the shorts.

There is a significant likelihood we are entering the short squeeze Pavel was referring to in his last note.

[trans]

Yes, u can have it both ways, long and short positions, and big shorts do it most of the time... that is have both long and short positions. Like jft says, at some point, likely starting around the 60 area, I too would expect shorts to be getting nervous, and possibly buying....

[Getitrt2]

Yes, you can HAVE both long and short positions. However, whether they are buying long or covering, there is little practical difference; both are buying and will tend to pressure the stock upward. I assume buying calls would have less immediate upward effect, right?

[trans]

Around 1:20 pm today, they turned the algo machine on again........imo

[johnwgrant]

The shorts show no fear !!! They must have some pretty good intel. Wonder what their source is ?

[jft310]

john-The shorts are scared they can't cover so they must short more. Wonder how this turns out see VW.

[ellerslick]

john-The shorts are scared they can't cover so they must short more. Wonder how this turns out see VW.

The short algos are back destroying the price rise on outstanding news.  They just wait for volume to dry up over and over again.  Millions of shares to move it up $5 and tens of thousands to drag it down.

[bertl05]

My guess is a deal is still months away, so i wouldn't expect much follow thru from yesterday Ellers. In fact IOC wasn't even up that much more than lots of other speculative energy plays yesterday.

This much awaited SD, became quite complicated and has MANY moving parts, It will take more time. There are also relatively strong parties in PNG that haven't kissed Phils ring. Call it a tug of war if you will.