Peyto Exploration & Development Corp T.PEY

Sliding

[traderfrom]

Pey under selling pressure every day now for 7 days under 50 ma today could see 200 next at this rate

[stockmarket1]

$12.50 brings Peyto down 18% off it's 52 week high. That's a number to watch for heavy buying. 

[stockmarket1]

Maybe Eric N is selling his share which is causing this downturn? That's crossed my mind. He tends to dump shares except for his top picks he mentions on BNN market call. Never know.

[earlybird_787]

This wave of selling doesn't make any sense. The company is on a solid footing, NG prices are decent and the current weather outlook is supportive of strong natural gas demand. To me, the only reason for the selling is that the recent buyers at $11.90 are continuing to lock in their profits. In the meantime I am buying up shares at these relatively cheap prices. In a few months I expect Peyto

[Ganga22]

I agree that the selling does not make sense.  Maybe a result of the Reposol Agreement and buyers now taking profits.  Tomorrow is dividend day and the annoncement of dividends for Dec 15th.