The constant flow of bashing articles is having no impact on volume. In fact, on a run rate to trade 200,000 shares today - would take shorts ~70 days to cover. Longs are convicted and won't part with their shares. Shorts have to hope that a new buyer doesn't come into the market and pray there are no leaks. They're in trouble.
Today's move is market and sector related. IOC will just drift around until they are close to announcing and leaks start to spring. Even Talisman Energy (TLM), a favorite by one of the most fervent IOC bears, is down 5% today and hitting a yearly low.
Oh, Rugby. Have you learned nothing from our relationship? Why would "leaks start to spring"? The bids were due over a month ago, and no leaks to this point, given the numerous interested parties, all the bidders, and therefore all the people who must already know what those bids look like (or some of them, certainly)? Let me ask you this. At what point in time, do you say, I was hoodwinked, and move on? End of this month? Mid-may? Or will you shift expectations just like everyone else has done with IOC for eons and eons?
Very true Squeeze, and as I posted earlier, the pps effect from any of ag articles had fully recovered in 1-4 days and most times the pps actually went up. With the pps off apprrox $4.50 from it's recent highs , it could be prone to shopping from both the longs and shorts. Interesting to see if we recover today like we did yesterday.
No, not sellers. Index trading will swap the same stock back and forth until someone capitulates. If they could drop it 20 on 100 shares and get away with it, they would. And on a drop of 20 would not someone panic and sell? Psychologically and intellectually , its the very opposite of "making an orderly market". Just something else longs have to become accustomed to and deal with.