VHC SHORT SELLER PANIC
It's not just in VHC. I see a short seller panic taking place in many of the heavily shorted names. Momentum players have been entering the picture, as well. This, of course, makes life much more difficult for short-sellers as they see a new round of buyers step in to take the price higher.
We've had a rare string of substantial up days in the markets since the June lows. I think that we are due for a period of rest. I will be going over this in more detail tomorrow during the weekly chart review.
I put on a short position in VHC mid-day on Friday. The stock kept rising as the day moved on and it closed near its highs. I have one more allocation to make into the stock. I'll probably do so on Monday morning. I think it is nearing a short to intermediate term top here. Reasons are in the chart below:
click to enlarge
VHC
