Okay, more on my trade into Calfrac-- what I've noticed is that this stock trades mostly in the afternoons-- the volume becomes noticeable in the last couple of hours of every trading day.
That said, today is no exception BUT the volumes across all markets are excessively light going into the three-day holiday weekend (US)-- for those of use living North of the 49th, we have Monday to contend with, we're open.
Posted below a chart of the OIH-- after every sharp drop there has been at least one "double-bottom" pattern and as you can see the up volume for today is practically nonexistent (bearish). I figure the BIG money is taking an extended holiday, so I suspect we will continue to see an advance (in Canada), but again on lighter volume, which is NOT bullish.
Going into today's close I will keep my position in Calfrac-- I'll probably even have to tolerate a pullback of sorts first thing in the morning-- that said, I'll have one foot at the exit going into the close because I do smell a correction once the professionals are back at work Tuesday.
NOT a market for buying and holding, at least not yet.
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