Tuesday’s opening will be interesting but a ton of ramping speculation in this post.
margin calls to name a few.
saying shares need to be covered as quickly as possible assumes all this shorts were sold at current levels. If they were put on at the recent highs they have 80 cents to rise before they will suffer any losses.
some traders short their own shares to provide a hedge when they don’t want to sell their long position, but don’t want to suffer a loss.
My post isn’t to take anything away from what could happen but just to share it doesn’t mean we have to have rockets come the open tomorrow.
it would actually be better to just start walking north from here, rather than gap up on very high volume, as that sets us up to deal with profit takers again.
Good luck, hope I can join you longs and 1.60 was the bottom.
SPL Price at posting:
$1.73 Sentiment: None Disclosure: Not Held
