Let's not fool ourselves, longs. Something is indeed not good. A three point drop in the pps ahead of what we have been expecting to be good news is simply a strong signal that the "good news" is going to be something less than good. Yesterday I suggested that hundreds of people probably have to know WHY IOC abruptly changed the date for 4 Q pps release to occur on Feb 28 instead of late March, which would have been normal. At least some of those people are acting on that knowledge today and they are SELLING!
So here is what it means to me: IOC has moved up the date of the pps release because they are going to announce a postponement of the deadline for submitting bids, and they don't want to have to say any more about it until mid May.
Given managements abysmal record for credibility, yet another postponement will have a heavy negative impact on the pps. Insiders know this, and this is why the stock is cratering already.
As always, I hope I am wrong, but I fear I am right.
If you are not a short, you are the biggest coward wuss I have seen on this board. Clearly there is risk in IOC if you are not able to handle some risk without panicking, you should not be in a high alpha stock. I have no problem with longs who worry about "inside" bad information leaking and driving the stock down, but the title of this thread, "ominous" certainly seems designed to scare others.
Besides, your saying that you have not seen such stock action in your lifetime is certainly ludicrous. What are you, two years old. The stock market is filled with anomalies. and as someone pointed out, Pacific Rubiales was down right before their deal skyrocketed the price. You are welcome to worry, that's natural with a volatile stock like this one. We are ALL in the dark on this stock, but even a doubter/cynic like me does not appreciate someone trying to panic others. Sell and go away or tone down the language a little.
You are either one of the stupidest longs in existence or not really a long at all, and I feel sure it's the latter, liar. Insiders could not sell now even if they wanted to. They have not been reporting at the last minute previously. They have the year end work done and are proceeding with releasing it. Then the CFO and others can focus on the review of bids and the partner selection.
Sentiment: Strong Buy
Then explaiin how this kind of manipulation works. You sell stock short (probably that you don't own) and drive down the price ahead of an announcement a couple of days later that has the potential of driving the pps over $100. Unless you have inside knowledge this announcement is not going to happen or else if it does it will be something very disappointing to longs, how does short expect to make money by selling shares today? Inquiring minds want to know.