I assure you that is not the case. Many are in the Green (i am not though).
Anyway, even if it would be (but it's for sure not) you could still try to trade the swings, regardless of being in the red or not.
As can be seen here from many comments over the years, there are many that have admitted that they are trading the waves.
You can't blame them. I never did, but I also never traded and don't understand to sell something for less than I think it is worth.
What I am saying is, that you can't blame the SP for what it is, when you are part of the trading game and are willing to fill the bids for a few pennies gain.
If the bid filling (selling shares) would stop, people would be willing to buy from the ask, as otherwise they wouldn't get their shares.
But as long as people "know" that their bid gets filled anyway, people refrain from buying out of the ask and just "wait" that their boss get filled. But this is killing any potential rally.
So, holding tight would put oxigen into a rally and support a buying spree.
But that's just my 2 cents. And ever since I was too stupid for the market. Never made a trade and usually bought from the ask.
But when one is "sure" that their shares SHOULD be worth 10 CAD, just don't sell them for less than that and eventually you will see, that they become worth 10 CAD, as no one is willing to sell them cheap, and therefore buyers WILL buy them for 10.
As long as things are on discount, why would you pay more? So, take away the "summer sale" signs and ask at least the "believed" market value for your traders. IMO.