The bulls are being handed some stock this morning - and after talking to yet another Ibanker this morning he is working on so many equity offerings he has no time to sleep. Will all this stock that is coming be absorbed? As far as the secondarys that we played today - we got shut out of one and the other one we got 1k shares - we indicated for 12k - its up a nickle - so we make 50 bucks.
SPG reported what looked to me like blah numbers yesterday and they cut there forecast - what did the stock do? It was up 6 or 7%. This stock has 10% of its shares sold short - some is tied to a convertible but some is just good ole fashion shorts. Bottom line they got squeezed yesterday as the entire REIT sector went crazy. I tihnk yesterday was a great shorting opportunity in that stock - it has rallied from 47 to 61 in three weeks - couple that with a forecast that was WORSE than the street expected.
Im covering a few of my short nasdaq futures here just because...
JB
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