Short Squeeze = MXC - Is MXC a Short?
Monday, May 19th, 2008Well MXC is a short squeeze if I ever saw one, and yet it hasn’t even traded 80,000 shares today. Very thin and controlled float. Be very careful with this one. I’m sure there aren’t many if any shares to short but currently sitting at +9.00 for the day, I feel very sorry for those who are short. Although I do bet this heads back under $20 in the near term… its possible that it could still test $30. If you do short, you’re really asking for it. Be careful it might just be better to watch the professionals at work. Although its very tempting to take on a short here at $28.50 (just small) and let it pan out. There comes a time when it becomes to expensive to support at these levels because of risk vs. reward, but if whomever is buying feels they can get out at $35-$40 + a share its very possible it will break $30 this afternoon.



