Gents after making good money on SUN at 8.35 and exit 8.62 I have switched into TOL.
Some goose shorted approx 300,000 shares this mornin.
What is interesting is that he moved it from 8.70 to 8.58 on just over 100,000 shares (very small amount by cascading it)...well guess what...heres the catch.
Fedex (FDX.USA) was up 3% overnight which should have moved TOL from 8.78 (open) to $9.00 approx on comps.
Good correlation. Expect late short cover back to open price or higher by today/tomorrow morning.
Looks like a strong short cover rally expected. Buying it back/ short cover should start at 3.30pm
for the dat the intraday short is massively short and with only 55,000 shares on screen to 8.69...he will move this stock back up.
