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Concordia Healthcare Corp. T.CXR.R



TSX:CXR.R - Post by User

Post by bullcharton Aug 14, 2016 4:11pm
361 Views
Post# 25140475

Doom and Gloom

Doom and GloomAll eyes will be on tomorrow morning. Expect good volitility. Posted Friday early AM Those spelling doom and gloom Fundamentally this looks bad but I am expecting this to recover at least back to 23-24 dollars. Do we forget VXR? Loss of 336.9 million Q4 and drops from 93.40 to 44.12 (55%) on 4 million shares and finally bottomed 3 days later at 32.35 trading 5.9 million the day before. Less than a month the shares were 55% higher. CXR takes a 570 million Q2 hit , ends up at a 12.45 low on 5.5 million shares and down from 22.15 day before high or down 40%. Until the real low is found Mon or Tues, I expect 15% high low spreads which equal $$$ for traders. Caution though. CXR traded 5.5 million last Oct 21 after a 790 million note offering and then ran back up 50% in 3 days. Interesting we get this same 5.5 million shares trading. We will soon know if that 5.5 million traded was shorts covering as they did last Oct. For sure those playing puts or shorting since Jan have made big bucks. CXR had a low of 6.50 on it's open Dec 27, 2013. Because CXR did not recover the gap Sept 25, I would not be too sure it does not recover this one at this level. For sure, come Monday the Sharks will be very active manipulating the bids and offers.
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