Get out while in 10's... buy next dip to low 9's for the 3rd time. Better yet, maybe don't screw with it.
I couldn't get a borrow, so I'd say up, except it's on the sho list, so people are giving illicit borrows. No edge. If the law was upheld, the stock would rebound simply because no one can short. Here, how do you know. :Better yet" probably best advice.
Yeah, all these new laws on REG SHO, blah, blah, hasn't done shit. There will always be clauses and what not to get by. Best to just avoid the manipulation.
BIDZ: BIDZ.com, Inc. (BIDZ) SqueezeTrigger Price is $13.77. Approximately 10.6 Million Shares Shorted Since May 2007 From May 2007 to November 2007 approximately 60.2 million total aggregate shares of BIDZ have traded for a total dollar value of nearly $829.8 million. The total aggregate number of shares shorted in this time period is approximately 10.6 million shares. The BIDZ SqueezeTrigger price of $13.77 is the volume weighted average short price of all short selling in BIDZ. A short squeeze is expected to begin when shares of BIDZ close above $13.77. BIDZ.com, Inc. has been on the NASDAQ Naked Short Threshold list for 4 trading days and short sellers have been failing to deliver for 9 consecutive trading days. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position. ~SI
Why on earth don't the US have a rule where the stock failed to deliver is bought in at market at the cost of the broker that fails to deliver?