RE:Are we ready to crush the short?!?!Note that the short traded volume on Canadian exchanges, including TSX, for TOS was only 350,012 in the last two weeks up to Dec 31. This is down significantly from the over 1,000,000 traded short in the previous two week period and the 4,000,000 in the two week period during the TD shenagians. This would indicate that few were shorting TOS at the end of this recent bottoming period. The total short interest was 2,479,321 as of Dec 15, and I would have expected short covering contributed a bit to the recent share price strength going into tomorrow's Investor Day. The Dec 31 short interest held should be out later today or tomorrow and it will be interesting to see if it is not down a bit, again.
In terms of today's trading, it is good to see the 60,000 sell at 2.89 from NB being gradually absorbed.
Regarding the persistent selling into the bid that was also mentioned, here, recently, I think they must be referring to our friends at Morgan Stanley, 53. LOL. They have been selling into the bid in tiny lots of 100 to 200 for well over a year, now, and they are doing their best again today. They have been net monthly buyers rarely earlier this year as well. In Dec, they sold net -158,300, with no buys on many days. In the previous month, they sold -237,000 the same way, and they sold significantly (without buying a single share -330,000) as well back in February when the warrants were forced. Other than the rather obvious influence of chronically depressing the share price throughout the day, and especially into the close including MOC sells, this is likely just algorithmic selling of some position(s), (and, beyond this guessing their manipulative endgame gets nowhere, IMHO). Personally, I have frequently taken advantage of their mindless selling, though it can take a while for a substantial bid to be filled. :)
Looking for more positives tomorrow to help make these shorts eat their shirts!