RE:TheoryDo you people still think this is a "short attack"??? I follow short attacks, generally by sectors. Looking for volume changes and reversals.
The massive resource short seller attack which recovered starting early this year was highly lucrative.
I'm watching the short attack on our 5 fives banks with passion for example. Not bought into that just yet but the squeeze could happen at any time. Ideally violently. I hope those US short sellers get burned because they are causing my bank to raise fees and the often stagnant institutions to become incredibily mean and lean to keep their classic investors happy.
Look at this list of top shorted stocks on the TSX, all top-10 are great candidate for short squeeze because they are solid companies with solid balance sheets that can survive any attack. Concordia is a weak wolf being attack by much bigger wolves. Except for a few speculative small oil companies I follow, it's mortally wounded and almost a "sure short to zero".
As for shorts controlling the float? What!? Do you understand the concept of controlling the float? The shorts don't control the float ! How would that be possible exactly?
To control the float, you have to own it. Short sellers are "anti-owning it", they have borrowed the shares with the promise to buy it back lower or, ideally for them, never.
The short sellers here are "gunning for zero" and management has given them all the guns and ammunition. This is purely speculative but I would bet that the CEO has not only done a shares for collateral which he seems to have pocketed in the spring but has likely shorted his own company with the actions performed.
The CEO is no market novice, he knew full well that guiding high just prior to Q2, attracting big name investors like Cohen's Point72 to buy earlier this year and delivering the opposite and guiding down for the rest of 2016 would cause a massive, massive sell off which is far from over. This is just an oversold relief and I'll be happy to be proven wrong.
Have you bulls missed all the events and information which has surfaced in August or am I in a different universe? The markets puzzle me at times but this bullboard is baffling!
Do you think the short sellers forced the company to misguide? NO! Get you heads out of the sand here people. This is not how credible companies operate. Period.
I wish I knew some of you bulls personally to help you out. For now, all I can do is plead with you not to surrender you hard earned money to the street players here. Research, research, research. And if you are still bullish, get someone else to manage your funds because you can't.
This is 100% speculative at this point. If the stock survives, it won't be because of fundamentals or technicals It will be because of complete market chaos. I have more hope in our regulators on both sides of the border. Something is going to happen and it won't be possitve for anyone holding this long.