Cold calling in the SB?

[TMFS9]

I know there aren't too many situations in poker where you can you a concrete statement like always or never. But I can't think of too many situations where it would be correct to cold call an opening raise/steal raise from the CO or button and offering the BB 5:1 odds. I am currently watching a high limit game that was five handed (now 6 handed) where this was a common occurence. In what situation, if ever could it be correct to cold call in the sb?

[J.R.]

when the BB is real loose and the button is pretty good/tricky aggressive and u have an OK OK multiway hand, typically of limited showdown value 3 handed.

Picture pretty paint like QJs v the above described opponents. Do you really want to play that out of postion in a 9 sb 3-way pot as the one with preflop momentum, but then again, who wants to fold it preflop?

basically u have a nice multiway hand, leave your self some greater postflop bluffing possibilities, stop/limit some of the BB's shenagins by enocouraging the BB to come along (i.e. stop bluffs through a protected pot), retain the check-raise option and won't feel ascompeled to overplay/go to far with you hand of minimal showdown value in a bloated pot and probably don't have the best hand preflop (so 3-betting is immediatel -EV)but have too much to fold. search for posts by "Ikke" in the archives, he is really good and has addressed this issue.