Thall’s Canadian Short Denial
Oh really, Thall? Thanks for the sarcasm — but let’s stick to facts, not snark.
Yes, Canadian brokers aren’t FINRA members. We all know that. But here’s what you conveniently ignore:
When those Canadian brokers short U.S. OTC stocks like DBMM, their trades may route through U.S. market makers — but that doesn’t mean the short positions get properly reported in FINRA’s biweekly short interest data.
Why?
Because:
U.S. market makers can internalize or net those trades across clients,
The short may show up as their own inventory position (not client-originated),
And FINRA only reports net clearing-level shorts — not synthetic or swap-based positions, nor offshore-held exposure.
This isn’t “tinfoil” — it’s how the plumbing actually works.
And no, IIROC doesn’t solve it. Canadian brokers don’t report short interest in U.S. OTC stocks to IIROC in a way that’s public or integrated into U.S. oversight. There’s no direct pipeline into FINRA’s database. Saying “they talk to each other” is meaningless unless you show actual data convergence — which you can’t.
Now let’s talk DBMM:
The chart shows suppression before every breakout
Volume surges with no price movement
Downward spikes with no news
That’s not a “bad stock.” That’s behavior consistent with hidden selling pressure — likely from firms not fully captured in FINRA’s net short numbers.
You can mock all you want, but unless you address these actual issues — netting, routing, offshore brokers, and synthetic exposure — all you’ve got is a punchline with no point.
Krombacher
Market Data 
Markets 
AI
