and it was hard to get through. The woman I spoke with assured me that nothing has changed within Linn to provoke this kind of selling. She confirmed that the Berry deal is still on track for 3rd quarter close. She ASSURED me that NOTHING within Linn had changed including the dividend raise to $3.08. She seemed competent, sincere and gave me her direct line for me to call her back if I had more questions. She said she would put me in touch with a V.P. to discuss this further if I desired it. She also said that Linn is working on a press release but the lawyers have not finished the language. She explained what they can and cannot say is complicated because of the on going Berry deal. She also mentioned that the Berry CEO was still happy with the deal.........from me to you guys for whatever itis worth. Please excuse spelling and punctuation...........
One of the more severe bear raids I had seen. A shyt lot of stops were triggered.....all on panic and no news. Despite how I believe the markets are due for a correction, this price is too good to pass up and I devoted some money into it. If it goes even lower, I still have some more dry powder. 10% yield too good to pass up.
I appreciate the effort. I put in a market order for another 300 shares. We must be getting close to 10% yield. With that information I think it is a strong buy, but will keep a little powder dry in case it goes down further.
Sentiment: Strong Buy
BRY, LINE and LNCO shareholders still need to vote "Y/N" on the merger/acquisition. IR has no way of knowing that -- the votes have not been counted yet. The "deal" was unanimously approved by the boards at both companies, and it's rare that the deal would fall through.
There were a few million shares traded today and the past few days. Hedge funds and high-frequency traders can easily "shake the tree" with only a few million shares. Today, LINE hit slsightly less than $30. Even without BRY, LINE is worth a lot more than that -- LINE had been paying 73 cents per quarter. The BRY acquisition is a very very nice to have, but if that deal fell through, LINN could look for something else.
LINE is being shorted and hedge funds are trying to scare retail investors. If it were something more than that, you'd see LNCO fall just as hard. But LNCO is held by people with stronger hands... Go figure.
The pps will come back. Have patience. Natural gas and oil have very promising future; that has not changed.
votes still ahve to be taken as you point out. Hedge funds likely want to hurt company in hope vote does not go through even though LNCO is the one that is doing the allocation / exchange of shares. I am mystified but hope we start to see a recovery.
........... she was probably talking about Clay....who explains things very well
Clay explained the hedging to me a couple of years ago.....when the discussion here was one silly comment after another so I called IR to ask to get the facts.
There was some silly 1981 misinformed-bond-theory of hedging-misunderstanding about how the PUTs actually do preserve the ability to add profits while still remaining 100% hedged for oil & for gas. It was posted again just today....but now we all know why.
...and then the long discussions about why the NGLs were not hedged....and at that time ....the NGLs made up about 17% of production.....
Gee, just like old times.
I still assume shorts are out to destroy the company. I did sell puts and buy more calls today out of desire to burn shorts if at all possible. I thought I got a good price for selling $29 October puts (about $3.20). That would cover me down to about the price of the basher today saying it would go to $25.