Ann: Quarterly Activities Report, page-109

I agree with the second part - it's speculation as is my own but possible one.

regarding the harping part... also possible and fair point but it could also be possible they are saving all the money they can to ensure they reduce risks. I don't think ALK will make such move but then again, neither I nor you know what ALK are thinking, and they operate with more information than both of us.

what I am suggesting is - to short ALK in such scenario makes sense and we are seeing lot of shorting while we all expect stellar quarterly result and steady production for the next 5 years with massive positive cashflow - who shorts in this scenario? someone brainless or someone who knows something rest of the market doesn't.