RE: Someone is short.....
posted on
Mar 05, 2006 06:00AM
There are instances where the naked short position has caused the shares in the actual float to exceed the nominal float. That has happened to me a couple of times, Conseco coming to mind. They still have to cover, it`s just harder in that the covering may force the price higher. Naked shorts expect that they will never have to cover at all with company eventually going into bankrupsy. There are situations that force the naked shorts to cover but these can be circumvented for a while. That scenario doesn`t apply here. There probably isn`t a sigificant short position in this stock yet and certainly not a naked short position. I`ve learned the hard way that the folks who short a stock very heavily know a lot more than I do and are usually, but not always, right.