Post by
Nordico on Aug 02, 2024 5:17pm
Nearly half of trades in second half July were short sales
Per recent data, 44.4% of traded shares in second half of July were short sold. There's a ton of outstanding short positions after today, over 30% of the float. They will all need to cover once AC finally has some good news. Frustrating to wait for it of course.
Comment by
Puma1back on Aug 02, 2024 5:43pm
the other incentive to short this from South of the border is that you also synthesize a CDN $ short which seems pretty sure given we have to lower rates faster. this thing is just in the worst flying weather imaginable right now. The RSI is super low but was worse around Q3 last year . I think that might be a good signal to monitor.
Comment by
wideopenthrottl on Aug 02, 2024 7:13pm
us employment data crashed things but it also raised the likelihood of more aggressive rate cuts by the fed...if they cut .5 cad will strengthen so who knows how successful starting ac a a currency hedge will work out...full disclosure I am double overweight with apx 18 average on paper but lower as I traded it quite a few times for about 2 bucks per share......glta...im also gonna hodl
Comment by
wideopenthrottl on Aug 02, 2024 7:15pm
edit..not "starting ac" *shorting ac