I know some very smart money that is buying (and looking at buying more) in this range - not shorts, but investors. Shorts may be covering too but if they are the patrons of the Church of Hell, they are obviously hoping that their running dog lackey will help them cover at a price lower than the current price.
Putting the BS filter on full amplification, I am left with three possibilities. One, the stock price will stay at the current level for the near term (possible). The stock price will decline (possible, as a psychological reaction to Sroda #5 being declared completely non-commercial although the economic reality of a non-commercial Sroda #5 well has already been factored into the market price). The third possibility is that the stock price will increase. I see this outcome as probable given its recent decline (regression to the mean as fear subsides just like we regressed to the mean from $16+ when the euphoria subsided) and the future events which will probably unfold during 2006. I remain a bit concerned about the market's psychological response to a "non-commercial" press release regarding the Sroda #5. Again, the market has already priced that outcome into the stock. But based upon the principles of fear and greed, another negative PR could be unpleasant (but not dramatically - too much smart money out there sniffing around the edges of FXEN waiting for those who are susceptible to fear to give them their shares at an even greater discount).
But at the Church of Hell, only doom, gloom, and fear shall be preached. How else can the church elders fill their purses? Logic was never an effective tool for fear-mongering.
Not according to Brown&Co daily charts. Most of the trades today were red and not green. Which means sells and not buys. It was like that for most of the week. The smart money got out on the 5th after the bad news hit when the price was in the 8'ths. Of couse there will always be buyers in any market. Thats what the MM"S and specialists are for.
"MMs are using every trick in their book to hold the pps down on a temporary basis DESPITE more shares bought than sold..."
More shares bought than sold...er OK. Sorry to have caused you an upset.
That is NOT my contention you LYING POS, and you KNOW it. My contention is IN THIS CASE the MMs are using every trick in their book to hold the pps down on a temporary basis DESPITE more shares bought than sold on relatively high volume so that they can shake out more weak hands... And I never made ANY contention that it was good or bad sign - JUST THAT IT WEAS HAPPENING AND BE AWARE OF IT (and that it could result in a reasonable pps increase near-term when they stop). In the future, please speak for yourself. Do not put words in my mouth, particularly LIES. Good day.
I disagree with that 5 percent chance. Look at the chart and you will see how they walk this down on the little trades below a few thousand shares. Look at all the options outstanding that are out of the money and will expire next week. But look at how many people are betting on the March calls. Alot outstanding. If anthing is going to happen to this stock its going to happen in the next few months. I am looking at taking a cheap big position in the calls next week . Probally the March 10's or 7.5's.
I am 90+% certain the MMs have just about shot their wad on holding FXEN pps down... Even with unfair regulations and extremely lax SEC enforcement of MM regs, they can only take things so far. I expect a significant bounce within a very few days, and worst case down another 20-30 cents. Less than 5% chance for pps to go below 5 near-term imo.
You should have waited for the drop below 5 next week. That is when the MM's take it laundry to shake-wash out any corporte-funds holding it. Most have bylaws restricting them from holding stock priced at 5 bucks and below. Why not buy some of the call options instead. The news on the next BIG WELL will be coming shortly right????
ZZZCLAY... Do not take the bait. The stock price is down. The shorts (and/or those looking to pick up shares on the cheap) are chumming the waters. As I was reminded a few days ago, do not respond to them. The only thing that matters is ROI. They were correct in guessing dry holes and a decline in price. The decline has occurred. Regression to the mean is on our side at this juncture. Again, don't take their rhetoric seriously. The folks buying at these prices know the score. They're not relying on this board for their DD. I picked up some more shares this morning given the deep discount current available. I am aware of others doing the same. The shorts will say I'm lieing or that I'm throwing good money after bad. But I would remind the naysayers that somebody is buying those shares and I'm not the only buyer out there. The scheme to drive the price even lower is not going to work. Too many people are aware of the prospects, the existing successes, etc. Have a great weekend. I'm out of here for now.