Sorry to say valueman this is poised to go 5.50 oil glut is large and becomming larger next yr. Does not bode well for hk IVE been lucky swing trading brcm and gm im out for Thanksgiving ENJOY YOUR THANKSGIVING EVERYONE AND GOOD LUCK SELL THIS VALUEMAN IT WILL LOSE
While I am consistently on record that I don't expect a big move up in HK in the short term, you may be way too overly pessimistic in your latest prediction.
Keep in mind that the selloff that caused HK to go to the lows of the year were extreme and aided by VERY agressive short selling and by any fair measure was OVERDONE. That has run its course and we see a more benign/ balanced environment for the shares. The remaining shorts who were smart enough not to cover on the recent rally we saw to $6.30's have, nevertheless a bit more realistic fear and will be lined up to cover on any dips below $6 . Then when we get through december, we should see a mild january effect , which also should lift the shares some , so this all speaks against a return to the hugely oversold conditions that accompanied the $5.50 shareprice. Additionally we can expect to hear some positive news on the drilling program, closure of the recent deals, and while I don't think it will be enough to catapult the shares up in a major way, it should help it at least tread water.