The bottom is FINALLY in and now it's up from here...
Swift Energy hit a double bottom today, charts stochastic's says WAY oversold, natural gas has had a nice run up (Swift has nearly 80% margins on their gas in the $4.50 range and Swift is now hedging), insider buys at higher prices over the year, selling at 1/2 of book value, High Quality Eagle Ford assets, etc. The last of panic selling happened this morning under $12 a share and now Swifts stock is in reverse and heading up. Tax loss selling and panic selling is exhausted.
As in all things, time will tell. My big bet is that the bottom is in and it's good to go from here. Almost forgot, with Natural Gas's recent rise, I would guess that analyst's will be boosting Swift's estimates in the days to come.
Nice rally into the close. Range of 62 cents today. Tax loss selling still going on, or maybe we've seen the last of it. Sometimes it goes right up to the last hour of the 31st, other years in ends in the middle of December. Different for different companies too.