TSX:TECK.A - Post by User
Comment by
BigNickon Jul 21, 2009 2:13pm
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Post# 16154311
RE: Todays's sell off/shorting
RE: Todays's sell off/shortingShort positions are increasing massively. at 23-25 this rerpesents all but a guaranteed profit of 5-10 bucks a share.
All this NONSENSE about "they are out for revenge" and " they want to squeeze the shorts out"
who the he!! are THEY??? you think a company would do this for some spite or something at their own expense??
for one its totally illegal, and two, TECK KNOWS DANG WELL their stock is not worth 25 bucks at this point.
Its the same BS as "the shorters are the reason the stock hit the 3s" and the like. The reason the stock hit the 3s is because an executive decision at the CAISSE in quebec by that groups elite, that it was time to dump the 12% of TCk holdings position, when Teck refused to back out of the FDG deal last fall - PLAIN AND SIMPLE.
Look at the records, Caisse dumped massive quantities from 30 right down to the end at 3. And WHEN CAISSE stopped dumping, thats when the tanking ended.
IT was a major suckers sell job to get the CIC to buy in at 17, and I suspect there are other "strings" and / or hidden benefits / backroom deals for CIC, like preferential treatment on the value of their capital to Tecks projects.