Today felt just like it did when the fleet report was released, good news followed by great news and nothing no movement , 10 million share's bought and sold and nothing ,beat street by.09 and nothing, 240 day backlog best in the company history and nothing , reactivating old rigs ang nothing , sells moving forward on old rigs and nothing , CEO allready looking to 2014 contracts and nothing . We should have had a 20% day pushing throu 7 into 8.4 range. What a hard day to watch as a person long in hero , Lucky for us today's price movement means absolutely nothing for the future prices that HERO will achieve in two to three quarter from now . Fools ,daytraders , shorts , fund managers had their way today and good for them, at the end of the day the truth will win out and so will the traders that had the fortatude to stay with this stock!!!! Failure to Lanch today! T-minis 15hrs and20mins for next attempt !
I agree, hard to take. But this stock has been mired for a long time in the range of $4 to $6 and I suspect that today many long-suffering shareholders simply took the money and ran. My hope is that we saw a shakeout of these people today, though it may continue in coming days. It all makes for a headwind for price appreciation. But I doubt we see sub $6 prices again.
The market looks ahead, does not live in the moment. We gained 41cents in the last 5 trading days. Todays earnings were counted for last week. We are only heading north and it's all based on future expectations.