Twin Butte Energy Ltd TBTEF

Needs to break over $2.50

[PUNJABI]

The stock has 2.37 % of the float or 8,186,714 shares shorted. In the two weeks ending April 15, 2014 the short position went up by 269,569 shares.

The short sellers are under water and there are also paying the monthly dividend of 1.6 cent per month. The stock is overbought like the entire oil sector. Crude oil is down over $2.20 today still most oil stocks are not pulling back. RSI for the entire sector is high still the traders / investors are not trading out of their positions.

In case of TBE the stock need to break above $2.50. Has hit $2.50 a few times but has not yet broken above the wall of $2.50. It is taking its time & trading in a very tight range. The previous resistance is being changed to support. The stock has decent volume but most of the volume is being generated by HFT for penny spreads. Canaccord has been a constant net buyer for the last few weeks. Most of the sales are coming from Anonymous.

8.1 m short position can put some fire under the stock under right conditions. TBE is a dull stock & is less volatile. It has been slow but study in rebounding from the lows of $1.60 in last August. At this time break above $2.50 is important to continue its upward move.
Short Positions for TBE

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : TBE	2014-04-15	8,186,714	269,569	344,753,682	2.37
T : TBE	2014-03-31	7,917,145	-164,979	344,753,682	2.30
T : TBE	2014-03-15	8,082,124	516,892	344,520,642	2.35
T : TBE	2014-02-28	7,565,232	996,953	343,079,562	2.21
T : TBE	2014-02-15	6,568,279	78,016	343,079,562	1.91
T : TBE	2014-01-31	6,490,263	84,571	343,079,562	1.89
T : TBE	2014-01-15	6,405,692	561,151	343,079,562	1.87
T : TBE	2013-12-31	5,844,541	301,846	342,099,518	1.71
T : TBE	2013-12-15	5,542,695	150,082	342,099,518	1.62
T : TBE	2013-11-30	5,392,613	350,468	341,969,430	1.58
T : TBE	2013-11-15	5,042,145	-3,250,261	341,969,430	1.47
T : TBE	2013-10-31	8,292,406	1,135,374	252,059,154	3.29
T : TBE	2013-10-15	7,157,032	1,698,858	251,616,965	2.84
T : TBE	2013-09-30	5,458,174	188,505	251,616,965	2.17
T : TBE	2013-09-15	5,269,669	1,204,143	251,242,633	2.10
T : TBE	2013-08-31	4,065,526	444,494	251,242,633	1.62
T : TBE	2013-08-15	3,621,032	1,089,585	250,916,313	1.44
T : TBE	2013-07-31	2,531,447	733,351	250,916,313	1.01
T : TBE	2013-07-15	1,798,096	-317,760	249,797,912	0.72
T : TBE	2013-06-30	2,115,856	423,397	249,797,912	0.85
T : TBE	2013-06-15	1,692,459	130,327	249,797,912	0.68
T : TBE	2013-05-31	1,562,132	244,859	249,797,912	0.63
T : TBE	2013-05-15	1,317,273	-129,454	249,797,912	0.53
T : TBE	2013-04-30	1,446,727	756,293	249,797,912	0.58
T : TBE	2013-04-15	690,434	-114,666	249,797,912	0.28
T : TBE	2013-03-31	805,100	-368,980	249,587,539	0.32