Following a familiar pattern of tradingOrdinarily, I don't suscribe to the common practice of blaming short sellers for persistant selling pressure which is intended to spur liquidation by investors. Here in the U.S. Peyto trades in the OTC market, consequently volume is usually quite low and trading subdued. However, the pattern of trading here has unmistakable signs of short sellers participating in the market. I am sure the TSX trading is also involved since that is where the volume lies, however I don't monitor that closely. Anyway, watching this pattern may provide some insight into a turn in the share price action. So far, the pattern of selling pressure all week and then buying on Friday is holding....pretty much a sign of short sellers actively involved.
Looks to me like we are approaching another sharp move higher. I doesn't look like much interest in selling by real investors is present at these price levels. We did not make a lower low this week(so far), so that in the past has indicated a SHORT TERM bottom. Same pattern exists in AAV which is the only other Canadian pureplay I own. Quite possibly, this applies to others. These short programs are typically implemented through algorithms.