GREY:BNPUF - Post by User
Post by
RetailRubeon Jul 18, 2019 3:57pm
207 Views
Post# 29936519
Deep Dive ... Who is Selling
Deep Dive ... Who is SellingI thought selling would have ended by June 30th. Window-dressing by wealth managers. They wouldn't want to explain to clients why they owned such a clinker that declined from $1.20 to $0.50 in the June quarterly statement.
But selling picked up again in early July with 2-3m shares per house: Macquarrie, Scotia, RBC, CIBC, Canaccord, ITG. (ITG is for institutions only, I believe). This selling drove it down below 50 cents. Maybe they heard something in July week #1. I would hope their investment bankers are not preparing for a BNP equity issue. That would be awkward.
Curiously, National was a huge buyer in July.
Short positions declined 65% in the month of June. Maybe the shorts were restoring their short positions in early July. Time will tell.
Anyone got any conspiracy theories?