Did anyone notice that most of the shares traded t
Post# of 9122
shares sold short: 63,550.
total volume: 98,000.
A conservative assumption would be to say that all of the difference (34,450) was used to cover the shares shorted today meaning that of the 63,550 shares sold short today, 29,100 are still outstanding that needs to be covered later, but mostly before the next short interest reporting period.
I say conservative because this assumption maximizes the effort by the manipulators to cover their short position.
Today was about killing any momentum that might have developed from the news this past Friday. Obviously it wasn't enough to overcome the manipulators. But every bit of good news helps to make it that much harder for them to take the stock price lower. The only real help they get is if a shareholder sells lots shares. It would be fake if they sold the shares that they've collected to take the price down, but it wouldn't be help because they would lose shares in aggregate, which is opposite their goal.
I forgot to add....if we are to believe that the stock is in a real downtrend, then the selling would NOT have been due to short sales, but rather discontent investors selling their shares in the normal fashion into a run expected from the good news.