FFN shorts will make money...Patient shortsellers of FFN should make some real coin here in the next week, as FFN commons will go a second consecutive month without paying to commons. IF they werent trading at a big premium, maybe the shortsellers would be nervous, but that is NOT the case.
CAD gaining big in the USD again , putting more pressure on the majority of the holdings in FFN.
Still no update from Quadravest to see the equity weightings, and whether the mnagers have increased or decreased exposure to the US banks.
FFN should be sub 5$ by the time the midmonth report comes around.