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The Canadian insider blog discusses news and insight found among insider and significant shareholder filings in Canada.
Ted Dixon is co-founder and CEO of INK Research. He is the creator of the INK Canadian Insider Index, and is the editor of the daily Morning INK and weekly Market INK reports. He is a regular contributor to the Globe and Mail's Globe Investor pages and has also worked as a part-time lecturer in corporate finance at the British Columbia Institute of Technology. Before starting INK, he worked at the Connor, Clark & Lunn Financial Group where his responsibilities included portfolio strategy and product development. He has also been an analyst at the Fraser Institute and a treasury specialist at the TD Bank. He is a Chartered Financial Analyst and member of CFA Vancouver. He holds an MBA in Financial Management from the University of Chicago, and a Bachelor of Commerce from UBC. Listen to his weekly economic commentary on Vancouver's Roundhouse Radio FM 98.3.
Victor Wong is a business and client development associate at Canadian Insider and an avid market watcher.
Nicholas Winton contributes technical commentaries on the INK Canadian Insider Index. Nicholas also writes the High on the Hog blog.



Radius drilling may need to go deeper for the stock to go higher

In the first segment of his May 8th Discovery Watch broadcast, John Kaiser takes a look at Simon Ridgway-headed Radius Gold (RDU) which we featured in our May 3rd Morning Report.

Mixed outlook for a US market rebound

In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense on how long the BOY playbook may work we are monitoring the INK Edge rankings of the top 10 largest market leading stocks as of the end of April.

Shorts appear to up their bets against housing via Equitable Group

Short-sellers are back targetting Canadian housing this earnings season. Mortgage and consumer lender Equitable Group (EQB) has jumped into the top 10 list of the most shorted stocks in Canada (as a % of float). As of the April 30th IIROC short report, EQB was sitting at the number seven spot. However, as short-sellers have increased their positions, likely as a bet against Canadian housing, our INK short signal suggests a potential short-squeeze situation. Based on our calculations, EQB short-sellers are betting against relatively strong insider commitment at the firm.

Insights: Climbing the great wall of growth worries

Will investors see the glass half full thanks to more Chinese stimulus, or the glass half empty due to Trump tariff tweets? Meanwhile, meet the CEO who will be staring down short sellers when he reports Q1 earnings this week.

We cover all that and more in this week's free Insights newsletter. Click here to read (no registration required).

Some clouds move back in after Fed day

There was nothing on Wednesday that improved our outlook for markets based on insider sentiment. If anything, the Federal Reserve's stoic approach towards subdued inflation may have dimmed the outlook for a prolonged summer rally driven by performance-chasing investors. During his press conference yesterday, Jerome Powell repeatedly shrugged off questions and concerns about the Fed's ability to consistently meet its inflation target which is for a 2% annual rise in the Personal Consumption Expenditure (PCE) price index. That gave little comfort to those, including the president, who were hoping for stronger hints of a rate cut.

For those keeping track, the March PCE was 1.5%.

Insights: How long will the BOY playbook keep working?

In the latest Canadian Insider Insights we provide our best take on when markets may peak this year. Click here to read our weekly newsletter.

Mythril electromagnetic dots draw more attention to James Bay

In his April 25th Discovery Watch broadcast, John Kaiser updates news from the emerging Quebec James Bay copper play centred around the Midland Exploration (MD) Mythril discovery. As the market awaits the first drill results from Midland on its Mythril targets, some news surfaced this week from tiny junior 92 Resources (NTY).

US transportation insiders jump ship

As we noted in our April 24th US market update for INK subscribers, transportation industry insiders are not along for the stock market's trip to new highs. Indeed, as the market sets sail in search of new highs, transportation industry insiders have completely jumped ship. Given the group's savvy ability to spot both opportunity and adversity last year, it is worth reiterating the message they are sending now. 

As stocks set sail in search of new highs, transport insiders aren't on board

2018 déjà vu?

We experienced the dangers associated with a stalled INK Indicator last year. Will it all happen again? Will we see a move up in stock prices in the first part of the year, only to see those gains evaporate in the fall?

We tackle that question and more in the latest Canadian Insider Insights. Click here to read this week's newsletter (registration not required).

The harvest begins for Village Farms Intl short sellers

High Liner Foods remains the most shorted stock on the TSX based on the latest IIROC report and INK data. Short interest remained relatively steady at 15.54% of its float, down 0.26% from the March 30th report. Since our April 8th INK post warning that based on INK signals the stock appeared at risk of a bearish setup, it has dropped 4.5%. Our bearish signal remains in place based on a combination of relatively large short-selling and average insider commitment.


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