Thursday, July 29, 2010

Last Minute Update!

This time the short squeeze is on in my favor. GAP is up 26% today. A quick glance shows short interest at 14 million shares.
The five day chart shows volume of 8 mil, with spikes in volume corresponding to drops in share price. Monday, Tuesday, and Wednesday all show small increases in volume pushing up the price by a few cents. Total volume was about 6 million. Today, the effect on the stock was magnified greatly. Today alone, volume was 5 million shares. It looks like a lot of shorts have already covered. So I took everything off the table except a 2% toehold.

Sell 8% GAP @ $3.36, +24.0%.

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