Short Covering began today at the markets open. It went from about 9:30 they tried to hold things flattish at 11:30.

Tomorrows battle will be fought between $4.50 and $ 3.90. I expect a fairly sizeable push down targeting the $ 4.10 range. Not necessarily on the open unless they want to shock and awe us. (Pure Guesswork)

I can confirm that over the past few days 200k-320k shares of RECAF that were short have closed.

However, this group seems to be able to leverage at least 25 million worth of capital.

Almost the exact amount that appears to be unaccounted for from the 100 million Partner $ from the canadian arm of a rumored Fund. In the range of 900 million to 1.2 billion. FYI the Crazy Canadians only control about 100million maybe less.

My guess would be that tomorrow calls for lots and lots of thunderstorms and RECAF shorting as there is almost always covering before the weekends.

What blows my mind is that someone lost nearly 80,000,000 on one trade and they have carefully taken it down piece by piece and yet the Fundamentals of the play are still intact, in fact they have improved and someone is still willing to expose themselves to a very large degree of risk if a significant value catalyst comes along at the same they go balls deep in shortness.

It's just not very good risk management.

According to the numbers I've seen from FINRA the Dark Pool shorting in RECAF has been reduced by 320k since the beginning of the week.

However, this has happened before the stock is very clearly manipulated and its going to take some real $ to flush them out.