RE:Wished I had my Div. alreadyIt's hard to say , nobody is buying and the bank algos just keep testing lower levels . Until something snaps the market out of this "we're afraid of our own shadow" , I'm afraid the shorts will keep using the algos to do their work for them . There is no news and no confirmation of another special dividend so the market just keeps cycling shares to drive the price down further .
Let's face facts , the shorts are in total control and without buyers , this could get pushed back to $50 . Bay St snowflakes have no use for O&G profits , because it aides western Canada (I assume) . The way regions work against one another in Canada is senseless , you can export to Antarctica easier than BC can sell wine in Ontario . Who needs enemies when we already have Quebec ?
The market dictates the price and when the algos swamp the bids , prices go down . All you can do is wait for the world to end (or the east to run out of gas) and then hop back in . There is one thing that puts the fear of god into a short seller and thats a wave of bids . Its like what happened with those meme stocks , if you could coordinate the buy side to act as one , the shorts would head for the hills . The problem with that is TOU has more retail investors than institutions , retail will always be hunted and squeezed by bigger positions because the small players aren't organized .