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Noble Corp. Message Board

  • pjhatbpi pjhatbpi May 28, 2014 10:32 AM Flag

    Ok, so short interest is up

    Who says the shorts know what they are doing? Looks like 6-7% of float. They probably waited till the dividend was paid, so they don't have to pay it. Bet they cover within a month or sooner ... patience! Add more shares, if it gets really low. The mkt is full of nonsense ... turtle will win the race

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    • As I mentioned in a prior post, you could see the shorts doing this....every time NE got a little head of steam, it would get pounded down with the 5 minute bars showing a strong volume spike, typical short action. I believe that some large hedge funds are behind this after reading the extremely negative analyst views from a few months ago. Every piece of evidence has disproved the "sky is falling" scenario. Yesterday, yet another fleet status report (RDC) showed that rig contracts are being signed and renewed. In the case of RDC, three of them. The negative analysts assumed that renewals would not happen....every single fleet status report over the last 2 months has disproved this negative assumption. The commentary from all the deepwater guys has acknowledged the slow patch (SDRL today), and if they are right, and it is just a slow patch, these shorts are going to get creamed eventually because the stock prices (below book value in many cases) already reflect the worst case scenario.

 
NE
32.40-0.02(-0.06%)11:04 AMEDT

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