RE:Coincident or Correlation? Last 3 days of EIF, BAD & HCGAnd not to mention, trolling his twitter I notice that he has been suspiciously quiet about EIF, BAD and only an odd mention of HCG's Soloway (who at this stage in the game no one cares about any more ... Now he is tweeting about other poeple's short "wins" and BC politics in the past three days. I think the short on STMP gone wrong this month (the stock virtually doubled on him since he made public his short STMP position) made some people very angry?
Or could it be that he was silenced by his lawyers? I do know that his ANTI-SLAP against Mark Thompson was recently dismissed in ontario court so that gives a boost to Thompson's libel suit against him. The legal fees alone for Cahodes must be huge.
I really don't know, but it is interesting what you say Hawaii, ... even I noticed there is a change in his tweeting activity. I am not a tweep btw, but have noticed he has the same few people (who don't appear to have skin in the game) coming to rescue him when something he says is rebuted
Hawaii2010 wrote: Interesting things happen at month ends, quarter ends and year ends at brokerages, hedge funds etc. The (typically) dour compliance officer, head of risk or chief investment officer moves from office to office going over positions they have identified as ‘risky, exposed, underwater, dog sh*t, get out of this or you are gone’ positions.” The conversation usually ends with a nice parting pleasantry, “Good times, great discussion, let’s do this again soon.”
With this in mind look at last three days of trading in EIF. BAD and HCG. These companies are uncorrelation in all but one way: they are Cohodes’ cabals’ shorts.
Despite being uncorrelated, aside from Cohodes’ cabal, the shares have been trading at what looks like an +80% correlation over the last three days. It appears to me that, (pardon my use of a technical term here), that someone has brought the ‘whammy’ down on someone who is short all three positions and they now are attempting to cover before the end of the month.
The correlation is likely that it is a single buyer, trying to cover all three short positions. This could be indicative of the start of the squeeze.