Post by
blackdog on Jun 16, 2021 2:06pm
Surge stock is being churned like butter
Have a look at the past month and a half of short trading: both shorting and covering. Not much real trading; I would bet very little bespoke selling and there are some gutsy and lucky folk getting a bargain as the shorters control the price.
The last two weeks of May saw over 3M shares shorted with 2.9M of those covered in the same time frame. The two weeks before that 7M shares were shorted with 11M(!) shares covered (dropping the short count from 4.6M to 476K).
Over the past two weeks saw six million shares shorted. The consolidated report later this week will tell us about how much of this (and the 554K short that was already on the books) was covered. And a lot more about what is driving share pricing than all the rest of the speculation here. My guess is that it will be mostly a wash - they are trading between themselves to rein in the price.
Comment by
ACESover on Jun 16, 2021 2:49pm
Blackdog, finally somebody who understands what has been going on with the smoke and mirror trades. I have stated more than once that the MM's have been controlling the price. When everything flips and they go long watch out. ACE$
Comment by
ariesleaf on Jun 16, 2021 3:27pm
Could they way we SGY trading is it maybe Wash trades and Matched Orders. It's not normal the way SGY has been trading lately.
Comment by
ariesleaf on Jun 17, 2021 11:43am
Wash trades and Matched Orders this is what is happing to SGY.