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Message: Re: Anyone care to take a stab at the cash situation?

EEC - I have had a busy week and am quite far behind but as I try to catch up, I feel compelled to reply to your post below.

It means nothing and the volume is getting smaller by the day, only short covering. Also the price needs to remain above a threshold or else they will be delisted. Do not confuse this as “strength”

On Monday, on the TSX alone, about 600,000 shares were traded to take the share price to its nadir. There were about 3 million shares traded on the TSX that day. That means that about 2.4 million shares were traded pushing the price upward. Yes, some can be short covering and some buying in. Contrary to your claim, today's volume was more than yesterday's and both days showed gains in the share price. They were each approximately 1 million shares on the TSX. That means that about 4.4 million shares have traded in the price recovery. In the September 15 short report about 511,000 shares were shorted. Although a portion of the trading is probably short covering, it is an extreme exageration to claim that number of shorts turns into 4.4 million shares trading. I think we are all a little or a lot surprised at the buying action and not sure when it will end but it is more than short covering. 

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