Saturday, April 4, 2026

September 24, 2008

The Ultimate Tell

As reported in the Wall Street Journal this morning, Prologis (PLD) has been added to the list of stocks that cannot be sold short. The article calls into question why it is on the short list, as it has little to do with finance or lending.

This is further proof that Prologis common stock is going to the pink sheets.

Why will they trade on the pink sheets? Because there are no requirements to trade on the pink sheets. The pink sheets are analogous to the “where are they now” record bins at your local record store.

It sure feels like there is a circle of cohesion at work here. Executives have created a complex entity. Securities regulators and auditors are signing off. Nothing changes in the markets, just the players involved.

When the plug gets pulled on this one, they will all say “how could we have seen this”.

I’ll give you the answer now. Your ability to see anything is impossible when you are wearing a blindfold.

Being on the no short list has many many unintended consequences. This is great news for those of us who are positioned for the inevitable downside move. The path of least resistance is zero. The fact that it has been added to the no short list is nothing but gasoline on the fire.

Peace


Categories: investing, market volatility, trading

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