LEND -- Something Fishy...

[flytiger]

Watch the SHO list. If that's the case, it'll show up as the hedgies pile into a sure thing.

They will naked short it, with the help of the prime brokers, and then be sure it goes down. Cramer's talking about an FBI rumor, and that's how they play. If you have your short on, you may get really lucky.

http://www.nasdaqtrader.com/aspx/regsho.aspx

Notice MAMA on there, btw. They can be wrong.

 

[pumpanddumper]

Quote from CalScholar:

When I reopened my short position, Scottrade informed me that I was shorting the last remaining shares.

A lot of people trying to jump on board...could be disastrous.

Damn, I only wanted 2500 shares.

Maybe I'll get short FMT tomorrow morning.

 

[flytiger]

OOPS

08:18 Early Pre-market Gappers

Gapping Up: MAMA +24.2%, PTT +5.4%, TOPT +5.2%, MNST +5.1%, NFI +5.1%, LEND +4.7%, NEW +3.9%

 

[CalScholar]

Quote from flytiger:

OOPS

08:18 Early Pre-market Gappers

Gapping Up: MAMA +24.2%, PTT +5.4%, TOPT +5.2%, MNST +5.1%, NFI +5.1%, LEND +4.7%, NEW +3.9%

Lend has pulled back some:

Yesterday's close @ 17.2
Pre- Market Bid/Ask @ 17.33/17.8

I've got some cushion in there, as I opened at 17.45. Also, yesterday was a similar story. Opened up 2-3%, only to drop as much as 15%. I took a nice profit off that swing. If it breaks 18.25, I'll close out. Fortunately, my initial position was larger than my current position. Still, never fun giving money back to the market -- fingers crossed!

Good Trading!

 

[pumpanddumper]

I'm living vicariously through you this morning Cal...I hope LEND does what it did yesterday.

I might short dhi and sunw this morning...thoughts?

 

[CalScholar]

Quote from pumpanddumper:

I'm living vicariously through you this morning Cal...I hope LEND does what it did yesterday.

I might short dhi and sunw this morning...thoughts?

Make sure you take market conditions into consideration. The bulls appear poised for a run this morning. We'll have to see if that sentiment holds...

 

[ByLoSellHi]

Quote from flytiger:

OOPS

08:18 Early Pre-market Gappers

Gapping Up: MAMA +24.2%,

wtf???

 

[flytiger]

Quote from ByLoSellHi:

wtf???

Think about it. Naked shorts get pinched, it's ugly. You're short some 70 =100percent of the float on some of these. Something has to give.

 

[CalScholar]

There she goes!!! Lend plummeting once again!?!?

 

[loufah]

Quote from pumpanddumper:

The problem with the order you placed to short LEND is that there
were not shares available to short.

You can trade the options. I did yesterday. The spread is around .15, but given a daily (or hourly!) trading range of a dollar or two, that's not terrible.