Needs to get beyond this 4.75 and stay, then the 5.00. Little jump today on insider buy. Think there are too many shorts that have to cover before they really move it up. This is what they call it the consolidation phase when the big money covers their shorts and go long. That can take some time as they keep moving it up and down in this range. Probably have seen high for the day and they'll move it back down some from 4.74.
SDRL just announced they signed a contract for 4 jack-ups in the GOM. Value over a billion. That's HERO's playground so expect news soon. Mexico stated they would open up their gulf waters and this may be the start. GLTA
There was more than insider buys, it was in the neighborhood of a million shares in about 15 minutes.
May have been institutional or shorts covering. Buys have dried up for now. But no really huge sellers here either. the run raised alot of eyebrows I bet.