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Monday, October 11, 2010

Shortsellers get desperate in MGM

Today, Hudson Securities (yes that's right--HDHL is an .08 stock) downgraded MGM to a hold, after it broke out on the heaviest volume in a year on Friday.

Since there are 90 million shares who have shorted MGM, and they don't want this stock to rally--well Hudson Securities is the calvary enlisted by the shortseller cabal.

So think about that for a minute.

In order to pimp MGM down, they need a bucket shop, that trades stock, to downgrade this name, and the stock price of the bucket shop isn't even a dime.

So why would anyone listen to their two cents worth of advice when they don't even have two nickels to rub together???