Message board tells The board posts are telling us the algos intend to go stop hunting this morning!
It is options expiration, and the last week for February oil contract. 8 days until earnings. Institutions don't mind watching retail shorts get burned, because it makes them debt slaves. Pros certainly can not tolerate short selling losses. Expect a lot of manipulation for the remainder of this week. Regardless of the fundamentals, shorts are running out of time, and we all know it. I sense desperation, and PERSPIRATION, in their posts.
Stink bid looks like a smart play to me.
Here are resistance and support level again.
** Shorts experience thermonuclear meltdown above $8.40, if we get there rapidly
5th resistance level $8.40
4th resistance level $7.14
3rd resistance level $6.30 Point of rapid price increase above this. Not much volume above.
2nd resistance level $5.88 (Strong)
1st resistance level $5.67 (Strong)
Baytex is $4.62 as I write this. VERY STRONG RESISTANCE Here, as we have experienced.
RS
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