Taxation, Fornication & Vindication First comes Revenue Canada or Uncle Sam to exact their pound of flesh.
Then comes the tax loss selling to minimise same. (In our case, with more than $120 million subscribed to at $5.40, an institution can take a loss today of $4.25 per share by exiting at $1.15. He gets roughly a third back, say $1.50 when he files his return for 2011. So that is like getting $2.65 instead of waiting for the market to rebound...and the shares can be bought back next month.
Finally comes vindication, when the loyal and patient little guys who did nothing get to ride the rebound as Canaco comes roaring back.
It's the pagentry of life.