Down to $35.11 on over 400K shares traded. Big Charts and nasdaq show the same thing. What's weird though is Nasdaq doesn't actually show any trades, just after hours volume and last sale. I hope it's just a screw up. Boy, I'll tell ya, I bought 2000 shares of this stock Thursday, and I am taking it in the shorts hard so far. Damn, I shoulda waited. I'm talking about HELX, not REM.
Remember, I did say "Ha Ha" after that statement. I had hope for better numbers but not necessarily expected it. After the the REM earnings PR I began thinking about how much this had affected HELX (CDIS) PPS over the past few weeks. Here is a case where "insider" information is no longer just "Insiders". There are so many outside people such as the MMS, contractors, agents working with both companies in the merger, etc. that I sure the "street" had no problems gleaning more info than we could as investors just on the sidelines. IMO that was an opportunity the "street" loves to play with. I didn't envy REM's people trying to get a grasp of the effect of the storms, and of course, the Qtr. and Year-End numbers, but it would have better if analyst expectations had been a little closer. Just a thought.
That said, The old CDIS management group has never been one to play on quarterly swings and I sure they were fully aware of the challenge facing REM. Yes, REM has a couple of quarters with reduced production, some covered by insurance. But in the mean time HELX is planning (and spending capital) for projects not scheduled to come online until 2009; that's really long range guys. HELX will just keep surging forward with their plans knowing that the "Market", the industry, their competation and of course the PPS will in turn just follow.
It appears that the "Market" is already "smelling the coffee" and began it upward movement late this a.m.
In a similiar vein the other oil service and driller presentations all were unqualifiedly upbeat, ensuring all that there has been no downturn, and wont be one, because of drop in NG prices. One of the themes is that it's become tougher and tougher to produce, so more drilling. Of course, productivity is among HELX forte, among many others. It's all good! Though today hurt.
Welcome to the party. I'm already overloaded on CDIS, and I bought a few more hundred shares today. Feel great about the price. The only thing that concerns me a little is the lack of support underneath us. We never really consolidated.
Hey, it's hard for us old long to watch the carnage. I've resigned myself to stay out of the way when the "Market" is having its way. I have only one recent purchase in the red so if I buy now I would be averaging up. Not that we should track O&G prices, but today futures are up pennies and we're down dollars even considering the great HELX conference presentation.
Did you get to hear it and have you looked at all the slides that went with it. I'm just amazed at how all of the CDIS stratigety is coming together.
I'm waiting for REM's CC tomorrow. If good news creates a day like HELX has had today, I'm kind of wishing that REM has "bad news"; maybe that will turn the down-trend back up. Ha Ha
Look carefully at the after hours trade. The amazing thing is that someone, or institution, traded 375k share at $36.5. Then there was a very samll trade, apparently someone very desperate, who sold a grand total of 100 shares at 35.11.
Hate to say it, but that feller wernt to smart.
That 100 share trade has been popping up like that for the last two or three nights which drops the stock big. It's just seems weird. Also, there has been one large block trade after hours last several nights. Wonder if it's someone big getting in or out?
Also, the stock looks to be at support right around $36, we'll see.