Short Targetting

I was watching REDF, which was showing up on my scan today. While going through news to find the catalyst for such a move, I found an alert issued by a site which targets naked short selling. Such kind of actions will proliferate now. While some heavily shorted stock might pop a day or two, the better bets are always one with earning/sales momentum.
Such speculative games are very common during such late momentum phases.

November 17, 2006 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short threshold list: Adherex Technologies, Inc. (AMEX: ADH), Philippine Long Distance Telephone Company (NYSE: PHI), Rediff.com India Limited (NASDAQ: REDF), Utek Corporation (AMEX: UTK), Westside Energy Corporation (AMEX: WHT), Aradigm Corporation (NASDAQ: ARDM). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.
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Rediff.com India Limited (NASDAQ: REDF) provides online news, information, communication, entertainment, and shopping services focusing on India and the worldwide Indian community. Its Web sites consists of interest specific channels relevant to Indian interests, such as cricket; astrology; matchmaker and movies; content on various matters like news and finance; search facilities; a range of community features, such as email, chat, messenger, and e-commerce; broadband wireless content; and wireless short messaging services to mobile phone subscribers in India. The company also publishes two weekly newspapers aimed at the Indian-American community based in the United States and Canada. As of March 31, 2005, the company had 36 million online registered users. The company was founded in 1996 by Ajit Balakrishnan under the name Rediff Communication Private Limited. It subsequently changed its name to Rediff.com India Limited in 2000. The company is headquartered in Mumbai, India. With 29.08 million shares outstanding and 1.16 million shares declared short as of Oct 2006, there is no longer a failure to deliver in shares of REDF.

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1 comment:

Brad said...: I used to participate in a chat room at financialchat.com called "activetraders". There are always some 600 traders logged on there, although only 5-10 chat actively. The rest are "lurkers", people who use the chat for ideas. So what happens a lot of times is that the "insiders" buy their shares, then start to pump it in the chat room. They generally look for low-priced (under 10$), low float stocks. Sometimes the pumping gets a stock moving so that other traders pick it up on their scans of the market and it may keep going all day. Many times, though, the pumpers just dump their shares once they've got the suckers buying. As you say, these are usually one day wonders. I suspect this was the case with REDF yesterday.; Nov 21, 2006, 4:44:00 AM

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