One of the Hershey Equities, I had 400 shares long of FMD since yesterday morning. When it started moving after hours, I figured price couldn't go much higher than $46.15 USD, and I sold half my shares. I was wrong. Last I checked, FMD traded around $48.00 USD. The shorts have to be very concerned now. Tomorrow's open should be interesting. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1029578>
yeah, ive been riding fmd back and forth since it was at 22. been very good to me - and the ultimate poor-college kid play. i seriously think it will pop 10 or more points over the next few weeks because of the short position - it was at 70 this time last year and a lot of people are STILL holding their shorts....
ok - i have no idea what happened, but there were big-volume moves down intraday - anyone hear anything?
It looked like most of the shorts covered last night, and in hindsight, I should have sold off my remaining shares then as well. I did sell out this morning when it looked like price was about to head downhill. i considered buying in again at the $43.03 USD support level, but decided catching a falling knife wasn't in my best interests. Good Trading to you. - Spydertrader
as an aside, there were some 100k blocks that moved today on the buy-side. curious to see how this play out.
.die bears..die. you too shorts - one of the most heavily shorted stocks i have EVER seen - 48% of the float. earnings tomorrow. any bears have the balls to call a miss? this is going to 52.. soon...