Regards to 5% short, my view is that it is likely to be less than 5%, I believe shorts use a third party to cover their short sales, so the real amount which is shorted is unknown, but less then stated. Shorters hate transparency.
On the 14th Mar, a BB was announced, the sp jumped, shorts would have been covering, but not so according to the data, in fact short sold went up. Makes no sense right!
At some point we will see short sales drop, but it will be the third party passing shares back to shorter, as the daily vol will be lower then the % of shorts covered on that day. Often see this happen, not just with CUV.
The real amount of daily shares solds is low, mostly it is fake shares as we all know, I remeber last year there was one day for some reason shorts were not active until midday, and virtually no shares traded and the there was large spacings between buy and sell prices. I thought something must be wrong with my trading account, but then at midday shorts started and the usual price manipulation resumed.
So, I believe 1.5 mil share BB will in fact be significant, as these are real shares, and no doubt when CUV make an announcement, the BB will make sure the sp does NOT tank like usual, hopefully shorts will move on to some other stocks.
GLTAH
CUV Price at posting:
$13.67 Sentiment: Buy Disclosure: Held
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