Who's in the mood for a 8.9% gain at opening bell? Every time I post an Level 2 quote it shows up as a dogs breakfast. But, sure enough, I'll try again. This is looking much better tomorrow.
The seller who is cheapest is looking to sell for $2.19. He has a paltry 1000 shares. Four steps away is a gal selling 5000 @ $2.40.
This is ok, but it will stoke the volitility fires.
In contrast, not much buying action. The top guy wants in at "market". [Picture Dr. Evil when I say "market"] -- he wants to buy 14,000 shares at $2.01. In other words market is not at 2.01 IMO; that was a flash crash caused by retail amateur hour. I don't suspect there is significant short interest outside of someone so inept they admitted they "wanted to be long but went the wrong way" or some damm thing. Mr Rhino, if you take one thing from my posts, it's shorting is for insiders with tips. Not us retail idiots. We should have two main levers: (i) invested, or (ii) sidelined -- unless you know for sure something is going to fail.
I'm only short on Canadian retail hosuing but it's darn hard to find a postion to stake on that. Too big to fail; moral hazzard; you name it -- nobody will fall because of this.
Here are the L2's as of now. I'm thinking we logjam at $2.25 tomorrow and stay there; we'll see $2.80 by end of week though. Sorry Paul @ RBC. Everytime you up your forecast for 'Transformed Tembec' you get you 12-month target hit a week after you press send. Just like last time with the $1.75 target lol. I supect there may be some common errors here: (i) misread the de-lever plan, (ii) scaremonger the lumber duty and equivocate TMB (intergrated; lumber light) with the lumber heavies, (iii) apply a higher EV/EBITDA multiple to Fortress Paper?? Ok. Cool story bro. No worries.
Hide Level Two Quotes | # Orders | Shares | Bid | Ask | Shares | # Orders |
| 1 | 14100 | 2.010 | 2.190 | 1000 | 1 |
| 3 | 1500 | 2.000 | 2.200 | 2000 | 1 |
| 2 | 500 | 1.950 | 2.250 | 32300 | 3 |
| 1 | 1500 | 1.910 | 2.330 | 100 | 1 |
| 1 | 700 | 1.880 | 2.400 | 5000 |