RE: More on shortsThanks for the report.
Aside from the Euro contagion / double dip recession fears, the Canadian housing market has started slowing down. June was a pretty big drop from May. I think a lot of buying was pushed forward earlier in the year due to (a) fear of the HST (b) fear of rising rates (c) getting in ahead of tighter mortgage rules that the feds brought in mid April.
I'm still expecting a good Q2 and there were reports that spreads had widened out recently but I also think that the Q2 results will be largely ignored and maybe set the stage for a take down in August. Even at 50 bucks, its way too cheap to sell any so I'd rather they just keep increasing earnings than hit any particular stock price.