RE:RE:Tuesday at the latestLovehockey said: Do you see May 6 number? It went up. It was happening when oil was rallying. So it is not as simple as you say. It is quite possible that the same attempt can be made, they can throw more shares to stop ATH from advancing -that is what they have been doing for the past 18 months. But it becomes riskier for them, so we will see.
They have been shorting the stock since January in a major way, it's been a long term plan. There has been no real plan to to fill the short positions since dropped from 56 cents. February came and people with brains saw a high risk chance to short the stock based on news of something coming out of China at the time...a new type of corona virus....they put their money down and they continued to put their money down. Now that OPEC + has decided to get a grip on the pricing and calling out the cheaters and putting measures in place on the cheaters previous actions and market share oil will bounce back to higher levels. Covid 19 was a blessing to those that went short...a ONCE IN A LIFE TIME EVENT.....so they have been using it to their benifit. WTI now at 39.14.....WCS now at 30.44.....Brent crude at 41.92. This is where the market makers start to see potential profits erased. So the question is......do you take that short position made at say .48 cents and close it with a .26 cent prifit minus all the expenses of the short position...then convert that to a long position that cost you nothing other than holding it......let me think......YES IT'S THAT EASY AND THAT SIMPLE.
A month ago they were paying you to take oil away. The future is looking like $70.00 oil....I'm more inclined to go for $58.00 to $63.00 WTI for the rest of the year. Just remember the world hasn't been in conflict the way it has been so who knows someone might blow up some major oil facilities in the middle east.
old_dog