RE:RE:Calling $5+ by April 17th Yes you're rigth. But there are also many new buyers. Not just Trican but Service Industry wide.
CFW(CalFracWell Services), FRC(Canyon), SGY(Surge) 11.2%, 13.4%, 6.8% Respectively
These are all companies that opened the day 22%, 23%, 35% Respectively off their year lows
Each of these companies did 9,000k+ in $ volume, Trican is 12,000k+ .. yes as you stated more sellers but there are also more buyers.
Today's spike to oil was caused largely in part to Saudi decrease of the discount to Asia as demand is heightening.
Yes many sellers, glad to get their extra dimes on their dollar from the bottom, but also many prudent buyers.
6 trading days ago, 7 counting this most recent session was the last time we hit 3.74-3.75
Stocks 2 days off the low. Roughly 25-30% of todays volume(estimate based where I seen volumes) occurred at the top 3.72-3.75,
Bottoms come fast, Climbs happen just as fast.
In the end we can just make our best educated decision that this one is going up!
GLTA