Reuters reported today (3/18/13) that Earnings per Share for WHX's 4th Quarter missed estimates of $0.66 by 15 cents, coming in at $0.51. Revenue estimates were also less than anticipated, according to the report (Source: go to Google-Finance and search for WHX. The report is the first document on the News List, sorted by date). This data plus the large drop in oil prices this morning would be good reasons to expect a significant drop in WHX today, but it was absolutely flat (closing 1 cent up). That suggests to me that someone is holding WHX up and the anticipated drop back into the $4 range may not occur this quarter (unless another super-negative article pops up and suddenly causes a panic sell-off). Thoughts?
No, actually. It feels to me more like a slow grind back to a pre-dividend high around $8. If you look at a 3 month chart, though, there was a temporary high on January 23rd of $6.61 (Google-Finance), followed by a drop back to $5.72 on Jan 25th before taking off to the pre-dividend high of $7.66 on Feb 11th. I have no crystal ball, just a feeling it wants to go higher. I wish it would go down, so I can buy, but I already have too much money trapped at higher prices to be caught again.
If there is a sudden spike up/short squeeze, take advantage of it, but be careful and don't buy at the top. Sentiment: "Buy", but at the lows and don't hold forever.