Carter, you're an nasty piece of work. Making all kinds of negative unsubstaniated assertsion.
PSN holders can be put into tow groups;
- those who owned PSN before before Tursday at $10+/share
- those who acquired PSN on Thursday or Friday at $6.50 or less
A bunch of those that were in group 1 that sold on Thursday or Friday and lost money. If they sold I don't even know why they are posting on this message board. They have checked out. There are few posters who claim to be in that group posting, but I believe most of those are shorts like yourself pretending to be prior holders trying to drive the price lower.
Those in group 1 are sitting on a paper loss. They can sell now for a guarateed loss. Or they can sit on the stock for another year and wait for it to climb back to $11/share while collecting a good dividend. Most of them will hold their stock and wait for the climb back.
Those in group 2 are at parity or close to it. They are not selling. Ain't happening. They got in because (1) the dividend is very rich, and (2) the prospects for the stock price climbing over the next year are very good. They are now long term holders.
The dividend creates substantial price support at this level. Folks like myself who got in at $4.50/share will continue to buy at this level. Which means that PSN will not stay at this level very long. It is headed up to a $6 - $7 level where it will stabilize until next quarter.
There may be a few traders at this level who went long at a lower price willing to sell, but not many. There are not many sellers left for you to buy shares from to cover with. Which means you have already stayed at the party longer than you should have. Friday was the day you should have covered. Every minute you maintain your short position is another minute you risk losing what you have gained.
So cover first thing Monday morning. Then check out.