RE:RE:RE:RE:RE:ARTICLE about BIR versus POU
Retiredcf
Thank you for your reply. As far as short traps go it would almost seem that management and Schulich deliberately allowed that short position to build until they broke the news in January of their improving balance sheet and the firming markets. It had the look and feel of a cattle round up. Upgrades from CIBC, National, and Royal quickly followed. When the trap was sprung the stock moved up. The short covering would have just added to the momentum.
Your approach seems more balanced than mine as no doubt you are thinking of the day when those shorts must cover while I on the other hand can’t seem to forget what it was like back in the $7.00 range, feeling the full impact of that short overhang.
But naked short selling allowed under the banner of accurate price discovery is blatantly wrong. Surely stock prices can navigate their own way to "the truth" without this mechanism. Like you, I hope we can get some regulatory change in this area.