RE:RE:RE:RE:RE:RE:RE:RE:nice report.cashtango00 wrote: I worked in the industry and although I did not work in that area, I have a basic understanding of how algos work and there is no way they would blindly buy or sell based on a headline number. That would be suicide, especially in resource stocks where reserves and infrastructure are written down and revalued based on transactions and volatile commodity markets.
I gotta agree cashtango , there is something else happening here that makes me question what I am missing . Today's trading was totally divorced from the sector or the market trends and I don't believe that a yahoo finance blurp was the reason . I said yesterday today's trading would come down to the talkingheads spin but to be honest , bnn never mentioned MEG once today . MEG has no PR skills , hell most Canadians have never heard of this company . Today MEG experienced a buyers strike as liquidity chased better performance while the sellers squeezed shaky holders .
Until the market takes these guys seriously , I think this will be destined to drift aimlessly . Toronto loves to hate O&G and an obscure O&G company is merely shark bait , a piggy bank to be raided , certainly not an investment .