Concordia Healthcare Corp. T.CXR.R

Evidence of Short Attack for November 5

[Marcel7]

So it appears that short activity yesterday was nearly double what it was before for CXRX. Here are the totals from the past 4 days: 

DATE	SYMBOL	ShortVolume	ShortExemptVolume	TotalVolume	Market
20151105	CXRX	141823	7869	205177	US
20151104	CXRX	74116	2810	138612	US
20151103	CXRX	69694	1600	103945	US
20151102	CXRX	30583	4140	80697	US

Now what was interesting is the explosion of short activity on the BATS Exchanges. Here is the past 4 days data on BATS Exchanges. The thing with BATS Exchanges is they do not have the ShortExemptVolume so we cannot see how many of these sales were short exempt (not on the uptick):

DATE	SYMBOL	ShortVolume	ShortExemptVolume	TotalVolume	Market
20151105	CXRX	56871	N/A	80328	BATS
20151104	CXRX	600	N/A	1600	BATS
20151103	CXRX	5000	N/A	6500	BATS
20151102	CXRX	0	N/A	400	BATS

And here is by market breakdown for yesterday:

20151105	CXRX	500	N/A	1000	EDGA
20151105	CXRX	31671	N/A	48212	EDGX
20151105	CXRX	700	N/A	1605	BYX
20151105	CXRX	24000	N/A	29511	BZX
20151105	CXRX	50636	7769	85823	NASDAQ
20151105	CXRX	34316	100	39026	NYSE

Overall, ShortVolume accounted for 69.12% of reported volume yesterday for these exchanges. Or a ratio of 2.24 to 1 Short volume to regular volume. This ratio is key to understanding how many additional shares were sold short.

That the stock ended up on the day despite this, and despite the drop in Valeant means that there is a lot of buying pressure absorbing these short shares.

The other thing of interest is that the BATS transaction level short data is readily available, I am in the process of extracting and analyzing it. What it should be able to show us is at what times this activity was taking place and at which prices. I will also check the timing of the volume of the short data to the posts of the known shorts such as ALLOVERMEDIA to see if there is a correlation just for kicks.

If you are interested the daily short data can be found here and is available to anyone:
https://www.batstrading.com/market_data/shortsales/?mkt=bzx
https://regsho.finra.org/regsho-Index.html

GL today!

[visionaryfool]

Good analysis. Thanks for posting. Look forward to seeing the second part ie. timing of shorts on BATS vs. short ports on this site.

[ruben12345]

\ Marcel could you please post te same for Nobilis?

[Marcel7]

Hi Ruben, While I would love to, I cannot at the moment as pulling the data for that was relatively time intensive. I cannot yet automatically download the BATS data yet as they are all ZIp files, and had never had reason to download it in the past. I scrape the short data from NASDAQ and NYSE automatically. Eventually I want to be able to pull this data automatically and quickly for any stock.

[TechTarget]

Great info Marcel7  I'll have some time this weekend as well.   If all investors do this and complain the SEC, the SEC will put more resources on it.  We an also provide them with bashing aliases used by the shorting team on stockhouse.  More data, the easier for investigfators of these crimes. I know many of these short and distort teams operate out of the US and Las

[Craigbad]

Shorting is part of the market whether we like it or not and has provided many opportunities lately if you trade. Fundamentally the stock is very attractive but the fact that there is so much short volume at these levels tells you that there is a huge interest to push this to a lower trading range. At first it seemed like $43 was the cap but they seem to be shorting aggressively around $40 now

[TechTarget]

Problem is craigbad is shorting used with short seller propaganda is used to manipulate the stocks and that's illegal.  Naked shorting is also illegal and a rampant problem that the SEC (and other regulators) need to follow up on.   And, shorters, like longs, can never predict the market.  As the main media continues to start looking at all the related health stocks "short

[Craigbad]

I agre, but the problem comes when everyone knows it manipulation but its very hard to prove. They use loopholes trading back and forth between entities as well as loopholes to do with options trading. It has become clear they are willing to exhaust buyers at pre determined price levels and then piledrive on low volume in hopes of triggering stop loss orders. In order to play the game effectively

[TechTarget]

100% agreed.  But put yourself in their shoes.  What would you hate to see the most? People talking about it and it making being reported by the news.  The more news reporters can discuss the problems, the more the public will understand and put pressure on the SEC and other regulators to fix the system. All we can do right now is guess the bottom of these manipulated stocks

[health1234]

ANY body,from we can get "live shot position data " for any stock live

[adamchess]

To me it makes sense to short if you are negative on some aspect of the fundamentals of the companny that you think will affect profits in a significant manner. In this case, the only possible negative I see are interest rates rising and the fact it is the healthcare sector. None of this is really relevant to CXR as its financing has already been secured and it has more than ample cashflow to pay