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Post by spiro on Jun 3, 2014 21:53:52 GMT -5
This latest MNKD stock price surge, started on May 9, with a close of $6.22. MNKD's share price has risen 15 of the past 17 trading days, with only a .08 drop on May 15 and a .05 on May 22. One would think that the shorts may be covering a little bit here, but that may not be the case. As of today Charles Schwab is still paying 6.5% to borrow MNKD shares. If the shorts were covering, I am not sure they would still be doing this. This chart doesn't include todays close of $9.51. finance.yahoo.com/q/hp?s=mnkd |
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Post by BD on Jun 4, 2014 6:52:22 GMT -5
This may be a good time to remind everyone that (at least in the case of TDA), you can request that your brokerage never lend out any of your shares (the only reason to lend them is to provide them to shorts.)
Another trick that is often used is to place GTC sell orders at as high a price as the system lets you; with pending sell orders, your shares will not be lent out. but it's a pain to maintain those (not to mention that sometimes the PPS does go through the roof and you end up getting your shares sold out from under you...this happened to me during one of the many GMCR short squeezes I've enjoyed!) so best if your broker will accept instructions to never lend shares out under any circumstances.
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Post by Chris on Jun 4, 2014 7:49:40 GMT -5
Great observation Spi, I noticed that as well but it's good to confirm with an actual chart posted for all to see.
Someone asked if MNKD will break $10 today or tomorrow:
$10 will be a major resistance point as it's a rounded number that's a double-digit gate way (e.g. $11, $12, $13...)
As the price of MNKD increases so does our marketcap (pps x outstanding shares), which to some degree despite MNKD being a biotech - limits our upside potential. But you never know when these type of companies that move so heavily on binary events and chatter alone, since there is no revenue pouring in.
I believe MNKD can break $10. If all goes well, it'll definitely be well over $10 in the distant future with approval, buyout or partnership, EU approval and sales on the horizon.
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Post by rak5555 on Jun 4, 2014 18:10:32 GMT -5
Maybe I am missing something here, but I love the shorts. The more the merrier. In fact, I will be disappointed to the point of concern if they are covering right now. Why? Because as they cover it makes their shares available for new shorting which could have a negative impact on future share price. Let me ask you - on the day of fda approval, would you rather have 10 million shares short or 68 million? I want them to cover just before I decide to sell.
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Post by BD on Jun 4, 2014 18:16:18 GMT -5
rak, you're being selfish. A few shorts need to make some money, or else they'll all give up and become stockbrokers. Let the idjuts cover!
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Post by ezrasfund on Jun 4, 2014 19:22:35 GMT -5
Suddenly I'm liking the delay and the idea that we may have to wait until July 15th for approval. I firmly believe that Afrezza will be a huge success, but until those cartridges start rolling off the line and we see the sales figures, it is mostly speculation (see DNDN), even if it is informed speculation. I have no problem with even a bit of rampant speculation, and with enough time till the FDA decision we could speculate to absurd levels without any complaints from me. Of course there will be some big, sell-the-news pull-backs, but I intend to trim my position all the way up, and any chance to buy back a bit on an over-correction will be OK too.
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Post by dreggy on Jun 4, 2014 19:26:39 GMT -5
>>Another trick that is often used is to place GTC sell orders at as high a price as the system lets you; with pending sell orders, your shares will not be lent out.<<
This is not true according to my broker (AMTD), the only way you can prevent your shares from being loaned are to have them in a cash account. Any shares in a margin account, whether a sell order is on them or not, are subject to be loaned without your knowledge.
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Post by trenddiver on Jun 4, 2014 21:16:48 GMT -5
Maybe Big Al is lending his shares and earning an extra 6 1/2 %. I don't think he is bothered by the large short position. It's kinds like feeding the hogs before the slaughter.
Trend
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Post by kc on Jun 4, 2014 21:51:49 GMT -5
If you have a margin account but are not in a margin position then the brokerage should not be playing with your shares. I hold about 21 different positions in my Fidelity account. But my shares in MNKD should be no more subject to being touch by Fidelity then my PG or XOM stock. Am I correct or misguided.
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Post by dstevenson on Jun 4, 2014 22:00:50 GMT -5
that is incorrect. when you sign on for margin, that is part of the agreement that they have the right to lend your shares out. it does not matter if you are on margin or not. if you dont want your shares lended, it is only acievable with a cash account because you have no agreement to lend your shares. read your margin agreement guys
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Post by thekindaguyiyam on Jun 4, 2014 22:49:32 GMT -5
I put a sale order on my shares @ $200.00. At that price there will be no borrowing for a week or two.
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Post by kc on Jun 5, 2014 8:38:56 GMT -5
Thanks for the info. I have a margin account but have never used the margin option. I guess that I need to protect my shares. If they were to use them they would have to replace them when I wanted to sell is that correct? I don't intend to sell as I am a investor and not a speculator.
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Post by nemzter on Jun 5, 2014 8:48:16 GMT -5
Wall up @ $11, Mr. Mann, break down this wall!!!
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Post by babaoriley on Jun 5, 2014 8:53:15 GMT -5
The known pieces of the puzzle do not depict this rally. Like in chemistry lab - find the unknown!
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Post by liane on Jun 5, 2014 8:59:54 GMT -5
Now spiro - don't give yourself a heart attack
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