Surge Energy Inc (Alberta) T.SGY

Very frustrating

[ACESover]

Watching CIBC (79) smother the ask price with relentless algo trades. There's a reason for their actions just wish I knew what it is. I've watched this movie before and eventually SGY moves higher.

ACE$

[fortunefavorsus]

I agree could move significantly higher soon.  They could be doing a pair trade long some stocks and short Surge.  I also think they believe some companies with buyback and dividends already or about to start will move first.  They much higher oil prices have to have management rethinking timing of buybacks/dividends.

[summerb37]

I agree.  The short interest has increased since last month, and I noticed today that Questrade has a 32.12% borrow rate for selling SGY short right now.  I suspect big money is selling SGY short and buying Suncor, CNQ etc to hedge their bets.  They will buy a favorite in the industry and short sell a non favorite to hedge their bets.  Favorites will typically go up more or