Short Squeeze = MXC - Is MXC a Short?
Well 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.
Tags: MXC
May 19th, 2008 at 11:47 am
Hmm, Interactive Brokers just told me that market data for MXC has been halted … I wonder why?
May 19th, 2008 at 11:48 am
Although there is no trading halt and ThinkorSwim is still putting out data on it. Maybe it is an IB thing.
May 19th, 2008 at 11:52 am
At the risk of overcommenting, yeah, the stock was halted. It is not every day that a stock goes up 40% on no news!
May 19th, 2008 at 11:53 am
It’s definately not trading… I have a few level 2 services and none of them are moving
From Yahoo “News!!! T.1 Halt - News Pending
Trading is halted pending the release of material news. ”
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=te&bn=12209&tid=1490&mid=1490&tof=2&frt=2#1490
May 19th, 2008 at 11:57 am
Haha - don’t worry about the overcommenting - no one really comments… yet anyway… or knows about the site
Curious what they come back with on the news pending, and if the longs keep it up.. Definately going to be volatily - just amazing how thin this is - Skyes had the short earlier today I figured it’d jump up and slam back down by now but surprisingly has held up all day.. until the halt