What has been apparent is that there has been no insider buying over the past half year while sales have been over 1 million shares. Mr. Linn has sold a million shares himself late last year.
What I like to see is insider buying at some point. Yes, I understand that the officers have a large number of shares and need to pay income taxes and the like, yet I would like to see more current personal investment.
I have reviewed as well the presentation recently made at the industry conference. For the most part those slides show a nice story (they always do, don't they?) as the spin is always a positive one when you have the bully pulpit; nonetheless, the acreage and potential revenue streams likely to occur from the holdings depicted reflect a solid future.....provided the price of oil and gas stays in the hedge ranges.
All in all this puppy should bark for some time to come and I believe that the distribution is secure.
I figured the large blocks came from the folks who purchased the 3 million shares at the end of Oct (new issues) and then had to short them to hedge their purchase - and are now trying to limit their shorting losses. The excessive volume makes this reasoning seem a bit faulty. There's been some chat on an IV board about warmer weather, Feb ng futures being ripe for a fall, and the ease of shale extraction - bears on ng right now. There is a sell off due so I booked my winners from '08-09 and will probably wait until April to jump back in.