RE: Short squeeze The obsession that some have with short selling is ridiculous. On the TSE, the short position for PSN has been roughly a 1 million shares-for a long time now. This is the short position on PSN for Canadian and US residents that have established a short position trading on the TSE -The ridiculous number shown over the counter of 18 million shares short, has not resulted from one trade on the TSE or it would be included in the TSE short position. So-looking at TSE trades, any short covering is only against the million share position. That is one days trading !!!!!!! All short trades on the TSE-where this stock trades 99.% of the volume, are reported and included in the million share position. The 18 million number , did not result from short trades on the TSE, or it would be recorded on that exchange as a short.. The fact that the total number of over counter trades for a year is a fraction of 18 million, means that number is either bogus or came from brokers being long in one account and short in another. The fix of the 18 million, if at all true, will never come from covering buys on the TSE exchange.
My point is ( to repeat it three times ) the 18 million short position did NOT arise from short selling stock on TSE, holding prices down, so why would you expect the covering to take place on the TSE driving prices up????
PSN stock price is based on expectations of future cash flow per share. Frankly, the last six months nothing has happened, except what the company said would happen. back in March.2012. This is still great news, as the companies expectations were seen as very optimistic, and they have met them. So the price per share has not fallen to reflect current cash flow, but keeps trading on future cash flow. This little bump, I hope, is a sign that they might be getting ahead of expectations for cash flow the fall/winter.
I know that some people see manipulation in everything.
Short covering wont change the value of PSN-what will, is cash flow above current expectations.