Quick look at the week ahead

We were supposed to start this week with a bang as the PSE’s long-awaited short-selling program was originally scheduled to go live today. That’s now pushed back to Tuesday, November 6. That basically leaves our domestic (PSE) calendar empty. On the international front, the US will report its Q3 GDP and initial jobless claims on Friday morning.

MB BOTTOM-LINE: There was a ton of confusion when the PSE announced that short selling would be going live on October 23. I reached out to traders and brokers to get their take on the situation, and the common thread between all of my conversations was a cautious sense of “we’ll wait and see”. It’s not a great sign when nobody seems to know what’s happening just a week before the launch of something that has been in the works for a decade (or more). I’m glad the PSE hit pause on the launch to address any outstanding issues, but I’m still concerned at the exchange’s recent willingness to be so tight-lipped and last-minute.

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