RE:RE:COMMENTS ON THE SELLING TODAYFrom the latest short report:
| T : NANO | 2023-08-31 | 596,906 | -35,649 | 104,434,440 | 0.57 |
Now, a couple of points here:
1) Keep in mind that this is data from August 15th to August 31st. So the data at this point is at least one week old and up to 3 weeks old.
2). It's worth noting that the TOTAL short position is only 0.57% (i.e., barely half of 1%) of the total float, and essentially, if not completely, inconsequential. 99.43% shares are long.
3). While there was covering during this two week period, I don't think this short position is held by persons who actually think there is any problem with the company. Far more likely, it is people/entities who have the power to bat the stock around however they want. Now, before anyone starts yelling "foul!", this is the stock market. It happens alllllll the time. You're playing in the stinkiest sandbox there is. Get used to it.
4) With regard to likely sources of this walkdown effort, I would suspect first and formost House 79 and House 14. I watch the trades very closely, and they are good at what they do. Effective, yet the tracks are covered fairly well.
5). Well guess who just happened to be the two biggest buyers today? Sure enough. House 14 (who bought net 28,059 shares today) and House 79 (who bought 27359 shares today.) Short covering? I wouldn't be surprised at all.
| House Positions for C:NANO from 20230908 to 20230908 |
| 14 Virtu ITG | 30,155 | 73,091 | 2.424 | 2,096 | 5,034 | 2.402 | 28,059 | -68,057 |
| 79 CIBC | 43,900 | 103,748 | 2.363 | 16,541 | 39,522 | 2.389 | 27,359 | -64,226 |
While there are no absolutes, there certainly are enough clues out there if you
a) Know what to watch for, and
b) Watch closely.
And even then it is not a perfect science. But what it does do is give you the opportunity to at least gain some understanding of the forces in play, and keep your head screwed on. Annoying? Yes, annoying as Hell. Fair to the retail crowd? Hell no. But again, suck it up. These games are played constantly. The job of the pros is to take your money. Too often, they do a damn good job of it and have the resources to make it happen. And nothing as fun for the pros as making retail barf up shares, helping their cause. And again, who was the biggest seller today? TD, the bastion of retail fodder, and an endless supply of food for the pros.
| House Positions for C:NANO from 20230908 to 20230908 |
| | | | | | | | | |
| 7 TD Sec | 12,402 | 29,823 | 2.405 | 67,052 | 159,251 | 2.375 | -54,650 | 129,428 |
Some things never change.
Keep your eye on the ball people. This company IS good. The path forward IS strong. The price, for the time being, is an absolute steal. The price in the not too distant future will be much higher.