Early CIT Shorts Enjoy Their Day

After filing for bankruptcy this weekend, CIT (CIT) stock started trading again on Monday with the shares opening 64% lower. As the large short position (15%) indicates, this has been a bonanza for some short sellers, but only those who managed to establish a position before the stock borrowing fees became prohibitively high. CIT group has a DCBS score of 10, the maximum possible. We highlighted CIT earlier this year when we identified short selling by bond holders well in advance of the equity price decline.

To download the whole article click here.

Comments

[Denise Hubbard:]

SEC Requests copy of financial film spotlighting naked short selling and stock market manipulation--especially focused on SIRI shares.


www.chrismartenson.com...


I saw "Stock Shock" and it was eye-opening. DVD is at Amazon.com and stockshockmovie.com

Nov 03 10:35 PM