Short interest up to 1.75m sharesI view this as confirming my suspicion on the trading pattern of pou over the last two weeks. Longplay - at this point in the day, pou is much stronger than other Canadian names. I am encouraged by the increased short position. With pou still buying back shares, the shorts are going to get a real squeeze when fee simple deals, earnings, $500m-$1b note at less than 6%, non-core asset dispositions occur. We have formed a bottom at $18. Need to break $19 then momentum takes you to $21.
Hit the bid. Stupid cheap. Strong buy and smile when the shorts have to cover. That day is coming soon.