Board longs and momentum traders,
* Stock Price behavior
The stock price has been grinding upward this options expiration week. What a pleasant change from last month. Note that volume is about 2 million shares a day below average volume on quote sites. What is the explanation for this behavior in the stock? Here is how I see it.
There is an absence of sellers to the bid, and large enough buy orders just below the bid/ask range that market makers do not want to fill. In the absence of sellers at or below the bid, the market makers must reduce inventory, if they have any, to fill those orders. The other choice is to let the stock rise to a place where there are sellers. Could I be wrong about this? Yes, though I don’t have another explanation that makes better sense. The stock is reluctantly rising, when often times, it retreats in an options expiration week.
Just like Elvis Presley, all the stock holders willing to sell at or below CAD $5.50, have left the building.
See my previous posts about support and resistance levels. They are still valid, and nothing about them has changed, excluding the CAD $6.30 level, which is now triple top, where it was only double before.
* Media and the Gartmans’ of the world.
The man who was always wrong, Dennis Gartman, has retired. There will always be another one to take his place. Every media outlet, on almost every network, has people on shows that are going to steer people in the wrong direction. This is intentional, and by design. If this were not true, there would not be disclaimers before or after the segment indicating the opinions are their own, and not necessarily the opinion of the network.
There are two ways to look at this.
The first is to think they are scum bags. You would be correct. This is easy, and not very helpful.
The second, and important thing to take from their BS, is to consider it a tell. Like in poker, where you play your opponents, and not necessarily the cards. When people like this appear at key times, like they do on this board, then consider the opposite. Often, you will find they have done some work for you.
This is why people who post exactly to my point of it being a tell, and call them on it, I know those are the people who get it. I am writing this for people new to manipulation schemes. The schemes are never going away, and being able to identify them, can help you make decisions about entry/exit points, and when to research something further. Always ask this question.
Why are they trying to steer us in the wrong direction, and what do they know or fear, that I don’t know? If you don’t do what they say, and investigate the opposite of what is claimed to be fact, you may find out what they know, and use it to your advantage.
Bashers/Distorters would not waste their time on message boards unless there is financial gain to do so. Whether or not they receive direct or indirect compensation, know there is compensation in some form. This is true for every message board, and every website.
Why do the Bashers/Distorters get so defensive, and angry, when they are called out on their BS? BECAUSE THEY KNOW IT’S TRUE!
I am excited for the news we have been waiting for. Details are much better than generalizations! Let me know if you agree!
I could not think of anything better to post, that has not already been posted.
The RS
Message Board Distorters Post
https://stockhouse.com/companies/bullboard?symbol=t.bte&postid=34326632
Baytex and those who make the markets.
https://stockhouse.com/companies/bullboard?symbol=t.bte&postid=34397511