TSX:TECK.A - Post by User
Post by
DoubleManon Dec 05, 2008 1:06pm
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Post# 15630062
TCK continues to be shorted....almost -95%
TCK continues to be shorted....almost -95%As long as the shorts continue to focus their attention with this stock on the down and uptick side.....with 100 and 200 lot trades...TCK will remain at dangerously low levels.....today for the 5th straight day.....the pattern continues....opens at the high and then proceeds to fall all day long....
Could TCK hit below 3.00?.....if the shorts are allowed to continue their charge..they have a good chance of succeeding.....
A couple of weeks ago there was a petition circulating to put an end to shorting on the uptick......as well....Citigroup was said to have approached the SEC in an attempt to stop uptick shorting....I have heard nothing to date...so I must assume their efforts were in vane....
There is far too much negative sentiment in the markets place at this time.....IMO a cooling period is badly needed....and the best way for this to happen....is to ban shorting for a few months.....otherwise the damage to some equities will get to the point where a recovery will not be possible.....I forsee a lot of chapter 11's around the corner happening ...
The markets need help.....my take