Small drop in short positionEven with big rebound in WTI prices. Short sellers are not in a big hurry to cover their shorts. Some short position is actually going up on the run up in prices. Which means some investors still do not buy that oil has bottomed.
SGY is still range bound. 200 sma has failed for the 5
th time. Trader love that the stock is range bound & they keep milking the stock in the range. One can make decent money trading a range bound stock.
Most stocks have rebounded with the rebound with WTI but SGY is still range bound. This stock needs a few large buyers to take this stock out of the present range. Little bit of short covering of 775586 did not help the stock much.
SGY still have a short position of 7.3 million shares. This company is not at the risk of going bankrupt. With increase in oil prices in principle these short sellers should have covered.
Short Positions for SGY
T : SGY | 2016-05-15 | 7,363,265 | -775,586 | 221,046,510 | 3.33 |
T : SGY | 2016-04-30 | 8,138,851 | -595,078 | 221,046,510 | 3.68 |
T : SGY | 2016-04-15 | 8,733,929 | -256,139 | 221,046,510 | 3.95 |
T : SGY | 2016-03-31 | 8,990,068 | 427,790 | 221,046,510 | 4.07 |
T : SGY | 2016-03-15 | 8,562,278 | -151,259 | 221,046,510 | 3.87 |
T : SGY | 2016-02-29 | 8,713,537 | 577,104 | 221,046,510 | 3.94 |
T : SGY | 2016-02-15 | 8,136,433 | 1,272,515 | 221,032,888 | 3.68 |
T : SGY | 2016-01-31 | 6,863,918 | -708,207 | 221,032,888 | 3.11 |
T : SGY | 2016-01-15 | 7,572,125 | -134,279 | 221,002,492 | 3.43 |
T : SGY | 2015-12-31 | 7,706,404 | -848,372 | 221,002,492 | 3.49 |
T : SGY | 2015-12-15 | 8,554,776 | -2,340,353 | 221,002,492 | 3.87 |