Check out the chart on http://Energy-Reporter.Org/
I think if the industry index can break through this over head resistance that we may get a good rally heading into the Winter heating season.
Does anybody else have thoughts on this?
Although the run today appears to be off of rumors, I noticed that after hours it is around the 32.10 mark. I didn't notice any official press release denouncing the rumor other than a couple of posts on this board that the CEO denied it. With that being said, it appears there could be another rally tommorrow until something more solid hits the street with the specualtion that there is something to the buyout. Opinions?
The problem with LBO rumors is...
why would the CFO sell so many shares if the company is going to undergo a LBO?
You'd think that if ANYONE would know, it'd be the chief officers.
I dunno. Something to think about.
Though it came down fast off its high for the day, it didn't really crash and burn. It also didn't lose ground in AH trading so maybe it will hold or climb tomorrow. I'm just tired of it sliding below 32 after we get these spikes.
Heh - yeah weve been talking about the 200 day MA on the daily chart for a long time now.
Thats where the action is. Weve tested it twice and alot of times the 3rd times the charm. Resistance is stiff there though.
when somebody posts same massage in all the massage boards, sometimes under different names, I get suspicious.
I hope u are not a short!!!!!!!!!!!
anyway, at this point confirmation of oil cut by opes or really cold weather=declining inventories will push us through. otherwise any push through and shorts will come out a bruise our backside again.