RE:RE:Like I said last week not a normal arb play
the guys at Jitney are professional traders. I have been to their trading floor in Montreal. The place is a madhouse. They call the traders there, "Les Animales" (the animals).
these guys are poutine eating, brador drinking, heavy metal listening hard core traders who know what they are doing and move in and out of momentum plays on a moment's notice.
This morning with the good job's report in the u.s. and the apparent Opec/Non Opec meeting pretty much sure to happen within a couple of weeks, they were probably trading like commancheros all day where fast money could be made such as the Canadian oil patch. For now that is not LRE as this is dead money until we get further news so as a result someone liquidated his postion here to move it into faster money. When the next set of approvals get announced they will come back to play the arb to .52.