RE: The Short position is huge This obsession with the shorts on this board is crazy- PSN trades only in Canada- there is no trading in the US- the short position relates to the TSE- there is no US resedence short position???- and last time I looked the short position was around 1 million shares- and changes by a few hundred thousand in two weeks- Where in the world did you find a short US position of 15 million- makes zero sense and who would ever know if the short position was from a Canadian or US resident???- When a stock trades more than 10 million shares in two weeks an increase of say 300,000 in the short position is 3% of trading- do you really think that 3% has an effect on the stock price??
The stock went up after earnings and today is a brutal day in the markets- I am not pushing SDY a Canadian oil service stock which is going into tank business in June, - but it has almost exactly the same IBITDA with significant growth 110% growth in first quarter 2012 vs 2011 and it trades at 5.60 dollars vs 13 dollars for PSN- same earnings same IBITDA- but PSN stock trades at more than twice the price- so really a price of 13-14 dollars is probably very realistic in this market- I still have a whack of both PSN and SDY and will hold both to next year- yes there are lots of targets of 16/18/25 dollars a share for PSN but look at any stock in this market and the targets are far ahead of their prices.
so- like to know where this 15,800,000 comes from in the US???- Why not concentrate on the fundamentals of the stock rather than be obsessed with the evil shorts??