SU Heavy sell volumes on US sideInteresting market day for Suncor. Draw your own conclusions.
In the last hour of trading today, the downdraft to the share price we have been seeing seems to be initiated on the US side.
Canadian volumes are only about 60% of what we see on a normal day, while on the US side it is 130%, indicating some big positions being exited.
This could mean a lot of things, funds balancing, and end of month clean up, or even the many that are disappointed they will not get that expected bump in share price with the sale of the retail business, or even the tracks of an Elliott exit.
An average US day is 5.7M shares, while TSX average volume is about 10.2M.