| An SI Board Since June 2001 |
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IFTA |
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The Jersey City bashers are scared... read this:
Significant short position in IFTA? Post #474986 by rushwindbag $$$
I read your post with considerable interest because I suspect that there might be also. Here's why... On Thursday afternoon in the last half hour of trading, I bought an additional 360,000 shares of IFTP to add to my existing position. On Friday, an hour before the open the additional 360,000 shares which had been in my account Thursday afternoon were now gone. Furthermore, when I clicked on my brokerage account "history", I discovered that those trades from Thursday involving IFTP had been removed. Fortunately, I had printed a copy of the trades when I made them Thursday... lucky I did. I talked with 3 people at the brokerage before the extra shares reappeared back in my account. I am suspicious that a lot of naked shorting has been going on by market makers that still needs to be covered. I could be dead wrong... but I would love to see a short squeeze.
A very Real possibility of a short squeeze Monday... #475157 Posted by rushwindbag
This could in fact be the case... in which case Monday will be extremely interesting. For those that don't know what I'm referring to go back and read my previous posts and those by others that bought huge numbers of shares of IFTP on Thursday. If, indeed, the market makers and others shorted beyond the float we will have a situation where those that sold short will have to buy shares from those that presently hold shares at "any cost" (per SEC regulations) to give shares to those that legitimately bought shares Thursday when trading volume hit almost 100 million. This is no joke. I remember this happening about 20 years ago... and shorters had to pay as much as 50 times the share price for shares of stock to cover. If indeed this is happening with IFTP/IFTA, and I believe it is, then hold your shares on Monday and be prepared for the ride of your life.
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