Ok, well, here are the figures for today, nothing outlandish but still noteworthy.
20120906|RFMK|12056728|0|48751988|O
Basically, 12M shorted and probably (just an opinion) about 12M covered so altogether maybe 24M out of the 48M total intraday volume (half) was shorting and covering compared to about 24M normal volume buying/selling (trading); all just speculation and merely an opinion. Even if we assume a single seller dumped half of the normal intraday volume that made up the regular trading, that would be about 12M in shares sold which with the average prices for today would be close to only about $25,000. This is chump change. If we consider it was double that and it instead made up for all of the regular intraday volume then it would have been $50,000 worth of stock the seller dumped. If that is indeed the case then whomever was boasting last night they planned on buying $50,000 worth of shares today actually meant he/she was planning on dumping about $50,000 worth of shares today. I think as long as the biweekly short interest remains zero then it hints at daily covering going on, if not T+3 window duration aged shorts, or else the shorts are never getting covered and firms are illegally not reporting proper figures to FINRA; all are possibilities. If such shorting and covering is occuring every day in the stock and the short sale volume is at least about 25% of the total volume then that means that only half of the volume we are seeing is made up from normal regular trading. As long as normal regular trading remains at or near 30M or 25M per day that is only roughly $60,000 worth of retail money changing hands which is still relatively low compared to the size of the O/S and what one could construe as a healthy RFMK market. I think once millions of dollars of regular normal retail money is changing hands in this stock, if ever, then and only then will longs be able to take notice and care what the price action is suggesting. Just my two cents.
GLTA
$RFMK!
