Balzac Billy Did Not See His Shadow!! Does That Mean an Early Spring?

photo from http://edmonton.ctvnews.ca/balzac-billy-predicts-early-spring-1.1140471

Today is groundhog day and Balzac Billy predicted an early spring.  According to the groundhog legend, if the groundhog comes out of his hole,sees his shadow and goes back in we will have six more weeks of winter.  If, however, the groundhog doesn't see his shadow and stays out for a bit, then that is a forecast of an early spring.  

Did you know that unlike most forecasting groundhogs across US and Canada, Balzac Billy is actually a man dressed in costume?  Hmmmm.

Environment Canada doesn't predict an early spring though.  I wonder who will be right?  Do you put much faith in this old tradition?