RE:RE:RE:Short data and coveringw8asec wrote: Obscure1 - Thanks so much for clarifying that .... and yes I also see this as good news,,,, sure would be nice to see the pendulum swing well north of $40 soon.
If you look at a chart of SU going back to the 15th of Dec to the end of the month you will see the effect of the shorts covering.
That story is over for now. The shorts have moved on and until they see something that would entice them to start shorting again - this chapter has ended and they are not part of any buying pressure going forward.
The upcoming 4Q FFO numbers are already well known by the pros and is already priced in and have been known for some time so your dream of $40 a share is just that...a dream.
There are two ways for SU to get to $40..
1...an amazing stock market rally
2....something which would take the price of oil to 100 a barrel
If you think either of these two will happen then Godspeed to you...
Me??
I sold my stake a while back after they announced the doubling of the dividend and will quietly wait for a market correction to reload.. I like the company but have learned from years (and sometimes bitter) of experience not to fight the tape.