RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:SELLERSYes, I agree that we may well experience some downside in the market before it goes up with any degree of force. At least, that is what I am hearing from some of the pros on BNN or CNBC, etc. There are a few that also say we may have seen the bottom. Either way CXR and others are way undervalued so I wouldn't be a seller anytime soon. Maybe buy some more at this bargain basement price.
As you say, I am also an accountant, financial analyst, etc. although I have not worked in the private sector for quite a while. Nowadays with computers, etc. a company should have a pretty good idea where they stand within a week of year-end I would think. Of course, there may be a lag in reporting some expenses that are performed somewhat manually. Cut-off dates have to be reviewed and verified by the auditors as well as currency translations and hedging positions, etc. Also, stock related management compensation seems to be a big one even though most of these adjustments are non-cash items. These things require close scrutiny and may take some time to iron out. It would sure be interesting to ba fly on the wall while these discussions and reviews ar being carried out.
Chessplayers love to analyze the details. I wish I had the same insight on the markets as I do with a given chess position. The market is like playing chess with so many more pieces and players in the game. I guess thats why it is better to specialize in one style of trading or investing you can master. Like chess or other things, mastery can take some serious study and effort. I think I have over 100 chess books that if I had read and understood them all, I would possibly be a master. lol Cheers
ChartSchool wrote: adamchess wrote: hi chart, I would believe that short covering is a precurser to the stock moving up with some momentum, based on good news, etc? Like shedding some weights in order to run faster.
Its certainly better than shorts adding to their positions which would be very risky, imo. Better stocks to short than CXR I am sure of that. Maybe its part of an indiscriminate market wide or sector strategy to include CXR and other companies in these short positions - same as computer trading seems to trade indiscriminately with some tweeking for certain stocks with special circumstances at the time. Like spreading the pain to accomplish a market wide or sector downturn/volatility perhaps.
ChartSchool wrote: Novel thought Adamchess. Spoiler Alert: You have seen short covering, so don't get too excited.
Adamchess, I like your thesis .... however, I am not convinced that the tide has turned for the general market. What the catalyst will be, who knows? FOMC perhaps?
One thing I wanted to ask you is that I remember you saying that you are an professional accountant (I apologize if I have this mixed up). My question is this: Given real time accounting practices today, do you think that the managment at Concordia is know well aware of the numbers coming out next month? THX. Chart