The short position increased by 22900 shares, which barely even registers in the daily volume totals. The fact that the precious metals got kicked in the teeth in recent days is likely more of a factor than anything else. The TSXV also broke down in a big way after it looked like it may have found its footing around the 1200 level. IMHO, we could potentially be looking at a perfect storm situation if the broad markets as a whole have indeed topped out prior to the March sequestration and up coming debt ceiling talks. Perhaps the breakdown in commodities should be viewed as a big red flag???
Anyway, not sure why you'd think CAN would be stuck in a trading range for a couple more months given that the special meeting is this Thursday (if I am not mistaken) with the reorganization apparently to be completed shortly after?