With the increase in price today with no "real "news made available to the public, there has to be an article that us little folk do not know about. Someone will find it and it will be news in the am. Maybe in PNG, maybe in Houston, anything can drive this up. With tight volume and downward price movement, why or what would make this go up with out any news? New buyer? New news? We will see and have the explanations by all the pros on this board. Soon.
I hope you are right, but one thing you should know, is that there are absolutely NO pros on this board or on SHU. No one knows anything. Not the longs, not the shorts, no one. There may be those with industry knowledge, that can calculate a flow rate and an MCF/deal pps appreciation etc., but it has been unequivocally proven that no one knows the timing, details, nothing. We only know it is Exxon and that is a very good thing in my opinion.
I tend to agree with Ed, short it down and buy it cheaper. That is the likely scenario if you ask me. But again, I sincerely hope you are right that we will get news tomorrow.
I don't have a clue, but what about the old standby of short it down in order to buy it more cheaply ? Suppose an existing BIG long wanted more shares; probably easy for them to acheive the desired result. Or plain selling dropped it in the morning, and buyers appeared in the afternoon !! Or you could be right and we get some positive news tomorrow. Have a good evening.