Barrons comes out and creates a doomsday (not worth 10), SEC wants an informal review of how LINE does business. Bear attack all week. shorts make a ton, quick and fast. before anyone can challenge/reply- game over. Now we get upgrade because of what? valuation. I think this whole ordeal stinks, and smells of deception and planned attack. Pathetic. Would love to see key trades who knew what and when.
This was a perfect short selling fear attack by the "short-sided" hedgefunds-praying on fear and "disciplined" investors. One important point to note: the Company just went through the IPO process all which was scrutinized by the SEC. Do you think for one minute that the SEC would have missed something then? Do you think the SEC would have allowed the MLP structure to go public based on some of the accusations made over the past few days weeks? Really? It's the SEC who has a lot of credibility risk here if they indeed approved this IPO erroroneously. I doubt the SEC missed anything. The SEC is a conservatively run market enforcer. Once they get done with the informal inquiry at LINN, I predict they will find nothing untoward happening at LINN and it will be a reaffirmation of all that was filed publicly in the past. with the SEC. Maybe then the SEC will turn their enforcement powers and review team to the hedgefund's positions, trading records and manipulative practices of attack on a well run, well managed Company of over 1,000 hard working souls & the many shareholders whose lives and fortunes have been greatly affected by many wildly inaccurate opinions. Fair Disclosure: I own the shares and have not sold any due to this debacle or inquiry.
Sentiment: Strong Buy
I cannot believe those on this board who believe the short attack is over. My opinion (and I could always be wrong) Is shorts will continue hammering LNCO unitl SEC inquiry ends and BRY merger is completed. I think there will be an ebb and flow (down and back up) of short attacks- covering so they do not have to pay monthly dividend.
Like it or not, I also do not believe we have seen the lowest price for LNCO. I am waiting to add when I think LNCO hits closer to lowest price. I have never shorted and I do not like shorts- maybe the only vermin worse than attorneys. My personal view is shorting should be illegal exactly for the reason of what they did to LNCO. But I will not pass up a low price if shorts drive price down.
I believe we have not heard a peep out of the scoundrels for 3 days now and the media -flow has changed to positive which tells me for now the upward trend is still in tact. line on the other hand went red today and that is a bad sign imo as either tomorrow it gets an early bump and trades up in an up market or it continues down in a down market. we have been trading well above the market pace, up 30% off the bottom so some selling makes a little sense and might not be an all together disaster, selling and stabilizing and then going higher is what we want to see, if you are long. nothing goes straight up. is it possible that some more negative stuff comes out and we are under attack again? absolutely, but they better make it good because they just robbed the corner bank. I think after the run we had it would be very difficult to buck a downward market, so keep your legs crossed.
Until something changes Hedge funds can call into question a company's accounting,especially one with relatively low float, spread the rumor, short/tank the stock and reap a windfall, repeat. What company is next?
Nah, Congress doesn't care what you think. They know that with enough campaign money, any number of votes can be bought. The vast majority of the time, whoever spends the most wins the election.
I heard that Cramer predicted a bear attack on Linn, even saying it would be around 11:00 in the morning a few weeks back, before the SEC matter arose ... how did he come by such knowledge? Is this anything less than conspiracy to manipulate the stock price.
Sadly, the holding of some shaky buy and hold investors have been essentially looted by the creeps. And it's LINN the SEC wants to investigate!!!