EnerCom Denver on Aug 20th. Maybe they will withdraw from the event without a notice just like last time. No confidence in the management. haha..
Institutions bought when it was in $2~$3. No more buying interests after that. No buyers or sellers. It's a dead stock until it finds a few good wells. At least, institutions are holding tight and management is also holding the shares it got from the option exercise. Investors know USEG is extremely undervalued and holding tight. Short interests is almost none compared to other oil companies.
This stock used to follow Moly price like TC but now it doesn't following anything anymore. (Moly is up 50% from the bottom but no change for USEG stock), When other oil companies went up all together, USEG did not move. When the oil price went over $100, it didn't move USEG neither.
MM is playing (tossing his own shares on both bid and ask. In reality, there is only very minimal trades i.g. a few thousands shares instead of tens of thousands shares), so the best thing to do is to let MM bring down the price and you buy the shares in stallments under $4 and check back in two years.
westcost, buddy what happened are you still waiting to buy in. West what do you think the price will be tomorrow. Should we wait or get in now or is the MM still playing games. Thanks in advance, BL
I expect the price to move up more tomorrow, but Do not buy until it stays above $5 and finds support at/above $5. MM is still playing because he has not accumulated enough. Insiders, institutions and retail shareholders are holding very tight. Recently MM used a techinicals to shake them, but that attempt completely failed. Since there is no buying and selling interest, MM will play some more until we have a few good producing wells confirmed. Good luck to all longs.
Finally under $4. I told you, but you hard head never listened. I am glad I sold all my shares at much higher and now I am waiting to buy back in installments. Time is on my side!! Easy money.
Don't know if it is the hired MM doing the manipulation, it may be an outside hedge fund with its high frequency trading bot.
But I've recognized how easy downward manipulation is when trading volume is low. That's why it takes a bit of patience to play a pick like this.