On top of the 7-8% we are going to see some interesting intraday activity as the shorts will be forced to cover. I know there are a number of providers (Macquarie one of them) that offer guaranteed stop losses. I guess a number of these will be triggered for those on the short side which means we are going to see slabs of buys hit the market at pretty much what ever price they can get. The short squeeze is going to be painful for some. The poster that reckoned we will be lucky to see $25 might just be one of those to be squeezed. For his/ her sake I hope not - it's going to be uglyfor those needing to buy stock tomorrow.
NCM Price at posting:
$24.11 Sentiment: Buy Disclosure: Held