Surge Energy Inc (Alberta) T.SGY

Sector rotation continues

[PUNJABI]

 Yet to see an exceptional blowout day where it beats most of the top-performing oil stocks for a day or few days. Where it is among the top 10 gainers and closes at a new 52 week high.  The stock is doing much much better but is still short of making truly exceptional runs that really show the strength of a stock. Because it is still being underpriced as compared to its peers.  The market is still not recognizing the fundamentals of this stock based on the current oil prices.  

Today the top two oil gainers had gains of 15.90 and 13.9% against 8.39% of SGY.  This stock still stalls when the sector loses a bit of momentum as there are too many HFT. CIBC drags down the stock when the sector loses momentum.  The stock needs to run independently and the net position of CIBC should be close to the middle and not mostly the biggest seller. CIBC is the largest HFT in Canada and when they have a positive bias on stock it can put a fire under the stock. Like to see CIBC in the middle and Anonymous on the top being the top buyer.

SGY has a very small short position of 631880 ( 5370980 Pre split ) less than 1% would have an insignificant impact on the share price.  In the last report, the short position increased by 111014 shares. Most likely HFTarders net position.
 
There were 92 stocks that created 92 week high mostly oil and recourse stocks when indices sold off aggressively. There is clear sector rotation taking place. S & P 500, Nasdaq and Dow took big hits today some of their downsides were cushioned by oil and resource stocks. Wheat  contracts have been limiting up at right at the open for 4 consecutive days
 
Finally, SGY is trading over $1.00 pre-split price.

The chart of the stock looks good. The entire oil sector is overbought. SGY was a laggard and created a good base and now it is moving higher from the base. SGY has a golden cross and is in a clear upward trend.  I have a habit of looking at charts all the time. The driving factor is the oil prices and the fundamentals of the stock and the sector. With every day the oil is above $100 oil companies are massive cash cows.








Short Positions for SGY

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : SGY	2022-02-28	631,880	111,014	83,357,221	0.76
T : SGY	2022-02-15	520,866	-62,007	83,357,221	0.62
T : SGY	2022-01-31	582,873	51,501	83,357,221	0.70
T : SGY	2022-01-15	531,372	188,391	83,357,221	0.64
T : SGY	2021-12-31	342,981	19,947	83,357,221	0.41
T : SGY	2021-12-15	323,034	32,213	83,357,221	0.39
T : SGY	2021-11-30	290,821	-51,137	83,357,221	0.35
T : SGY	2021-11-15	341,958	64,673	83,355,987	0.41
T : SGY	2021-10-31	277,285	188,187	83,355,987	0.33
T : SGY	2021-10-15	89,098	-10,163	71,599,338	0.12
T : SGY	2021-09-30	99,261	-39,191	71,599,338	0.14
T : SGY	2021-09-15	138,452	17,807	71,599,338	0.19

House Positions for C:SGY from 20220307 to 20220307

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
2 RBC	325,270	2,952,449	9.077	126,960	1,146,401	9.03	198,310	-1,806,048
1 Anonymous	948,011	8,563,866	9.034	881,103	7,983,285	9.061	66,908	-580,581
39 Merrill Lynch	128,625	1,165,012	9.057	89,949	813,353	9.042	38,676	-351,659
19 Desjardins	40,977	374,465	9.138	26,274	237,051	9.022	14,703	-137,414
70 Manulife	13,500	122,214	9.053	0			13,500	-122,214
91 Jones	10,000	87,062	8.706	0			10,000	-87,062
9 BMO Nesbitt	108,277	973,309	8.989	99,262	891,028	8.977	9,015	-82,281
14 ITG	9,935	89,952	9.054	2,084	18,955	9.095	7,851	-70,997
59 PI	3,100	27,215	8.779	0			3,100	-27,215
124 Questrade	18,765	170,675	9.095	15,811	142,827	9.033	2,954	-27,848
13 Instinet	3,605	32,576	9.036	1,400	12,806	9.147	2,205	-19,770
28 BBS	2,200	20,306	9.23	0			2,200	-20,306
55 Velocity	2,029	18,522	9.129	0			2,029	-18,522
74 GMP	6,950	63,205	9.094	5,624	49,666	8.831	1,326	-13,539
56 Edward Jones	1,000	9,143	9.143	0			1,000	-9,143
62 Haywood	200	1,842	9.21	0			200	-1,842
53 Morgan Stanley	57,283	513,387	8.962	57,169	517,018	9.044	114	3,631
143 Pershing	0			160	1,457	9.106	-160	1,457
83 Mackie	0			870	7,957	9.146	-870	7,957
57 Interactive	5,442	47,950	8.811	6,909	62,670	9.071	-1,467	14,720
88 Credential	7,818	69,781	8.926	9,680	86,464	8.932	-1,862	16,683
22 Fidelity	0			2,000	18,230	9.115	-2,000	18,230
200 Acumen	3,575	32,273	9.027	5,860	52,982	9.041	-2,285	20,709
82 Stifel Nicholas	0			2,500	22,825	9.13	-2,500	22,825
76 Industrial Alliance	0			4,073	36,735	9.019	-4,073	36,735
25 Odlum	0			4,634	42,205	9.108	-4,634	42,205
68 Leede	0			4,796	43,898	9.153	-4,796	43,898
80 National Bank	47,209	422,793	8.956	52,517	472,722	9.001	-5,308	49,929
65 Goldman	0			6,437	58,424	9.076	-6,437	58,424
72 Credit Suisse	500	4,375	8.75	8,000	72,690	9.086	-7,500	68,315
85 Scotia	46,839	422,537	9.021	57,142	521,427	9.125	-10,303	98,890
33 Canaccord	7,550	68,934	9.13	20,692	187,577	9.065	-13,142	118,643
5 Penson	61,541	557,033	9.051	86,388	782,417	9.057	-24,847	225,384
73 Cormark	34,900	321,741	9.219	74,705	679,578	9.097	-39,805	357,837
89 Raymond James	1,000	9,154	9.154	48,678	445,546	9.153	-47,678	436,392
7 TD Sec	643,032	5,805,884	9.029	711,670	6,397,991	8.99	-68,638	592,107
79 CIBC	489,496	4,422,046	9.034	615,282	5,563,513	9.042	-125,786	1,141,467
TOTAL	3,028,629	27,369,701	9.037	3,028,629	27,369,698	9.037	0	-3

[moose73]

We are still not even close to 2017-18 levels. Lots of up room left.