ECU: How did the "short" boyz do this week?
posted on
May 21, 2011 09:25AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
This was an interesting week in which ECU opened 5/16 @ C$.72, traded as low as C$.66, and closed higher at C$.79, after reaching an intra-day high of C$.80.
Let's examine the composite trading this past week for the "usual suppressive suspects" at Jitney(99), Anon(1), CIBC(79), and RBC(2), drawing some conclusions below:
House Positions for C:ECU from 20110516 to 20110520 |
House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
7 TD Sec | 614,696 | 440,323 | 0.716 | 345,050 | 257,165 | 0.745 | 269,646 | -183,158 |
12 Wellington | 197,000 | 141,830 | 0.72 | 97,000 | 67,900 | 0.70 | 100,000 | -73,930 |
33 Canaccord | 114,500 | 83,160 | 0.726 | 39,500 | 28,890 | 0.731 | 75,000 | -54,270 |
79 CIBC | 251,195 | 186,013 | 0.741 | 218,600 | 159,993 | 0.732 | 32,595 | -26,020 |
15 UBS | 100,620 | 72,181 | 0.717 | 68,830 | 50,114 | 0.728 | 31,790 | -22,067 |
19 Desjardins | 111,197 | 79,602 | 0.716 | 80,873 | 59,524 | 0.736 | 30,324 | -20,078 |
9 BMO Nesbitt | 103,257 | 74,195 | 0.719 | 75,000 | 55,600 | 0.741 | 28,257 | -18,595 |
89 Raymond James | 16,186 | 11,979 | 0.74 | 0 | 16,186 | -11,979 | ||
5 Penson | 10,000 | 7,900 | 0.79 | 0 | 10,000 | -7,900 | ||
6 Union | 7,200 | 4,896 | 0.68 | 0 | 7,200 | -4,896 | ||
11 MacQuarie | 3,800 | 3,002 | 0.79 | 0 | 3,800 | -3,002 | ||
101 Newedge | 4,500 | 3,335 | 0.741 | 1,000 | 760 | 0.76 | 3,500 | -2,575 |
27 Dundee | 2,500 | 1,925 | 0.77 | 0 | 2,500 | -1,925 | ||
80 National Bank | 8,000 | 5,600 | 0.70 | 6,400 | 4,971 | 0.777 | 1,600 | -629 |
58 Qtrade | 5,000 | 3,750 | 0.75 | 5,184 | 3,733 | 0.72 | -184 | -17 |
123 Citigroup | 0 | 840 | 626 | 0.745 | -840 | 626 | ||
53 Morgan Stanley | 0 | 1,000 | 750 | 0.75 | -1,000 | 750 | ||
52 NCP | 28,000 | 20,550 | 0.734 | 33,000 | 23,910 | 0.725 | -5,000 | 3,360 |
57 Interactive | 6,129 | 4,422 | 0.721 | 11,457 | 7,847 | 0.685 | -5,328 | 3,425 |
65 Goldman | 3,000 | 2,360 | 0.787 | 11,500 | 7,855 | 0.683 | -8,500 | 5,495 |
85 Scotia | 141,335 | 99,851 | 0.706 | 150,200 | 111,128 | 0.74 | -8,865 | 11,277 |
14 ITG | 14,200 | 10,222 | 0.72 | 25,395 | 18,778 | 0.739 | -11,195 | 8,556 |
124 Questrade | 9,200 | 6,248 | 0.679 | 27,155 | 19,596 | 0.722 | -17,955 | 13,348 |
13 Instinet | 1,000 | 740 | 0.74 | 32,000 | 23,805 | 0.744 | -31,000 | 23,065 |
75 MGI | 7,500 | 4,950 | 0.66 | 100,000 | 68,000 | 0.68 | -92,500 | 63,050 |
2 RBC | 141,880 | 102,465 | 0.722 | 253,411 | 179,864 | 0.71 | -111,531 | 77,399 |
1 Anonymous | 225,500 | 162,410 | 0.72 | 345,500 | 245,445 | 0.71 | -120,000 | 83,035 |
99 Jitney | 317,000 | 230,105 | 0.726 | 515,500 | 367,760 | 0.713 | -198,500 | 137,655 |
TOTAL | 2,444,395 | 1,764,014 | 0.722 | 2,444,395 | 1,764,014 | 0.722 | 0 | 0 |
Jitney lost a net 1.3 cents on 317,000 shares purchased = -$4,121.
Anon lost a net 1 cent on 225,500 shares purchased = -$2,255.
CIBC lost a net .9 cents on 251,195 shares purchased = -$2,260
RBC lost a net 1.2 cents on 141,880 shares purchased = -$1,560.
Furthermore, Jitney, Anon, and RBC were Net Sellers of 198,000, 120,000, and 111,531 shares respectively. Thus, with a close of C$.79, any further attempt to cover prospective shorts will result in even greater losses. Only CIBC transacted a very modest net gain of 32,595 shares which if sold at the close of C$.79, doesn't even cover the week's loss ($1,630-$2,260 = -$630).
Of additional interest, after selling a net 48,500 shares during the first four days of the week (Buy = 78,750 vs Sell = 127,250), Jitney merely bought and sold 2000 and 6500 respectively on Friday 5/20! After buying 56,000 and selling 85,500 shares during the first four days, Anon merely bought 1000 and sold 3500 shares on Friday!
I cannot remember the last time these two ECU villains were so invisible!
Could these short "fools" realize that we are close to the beginning of the end?
We'll soon find out! They sure aren't making any profits this way!