I'll remind of the ridiculous institutional and short interest - institutional 114% and short 54%. The significance is now the price swings are less and support is much higher. I interpret that as the new base before run up which can occur more quickly than expected. Don't take my word but do your own dd. Usually when Tute ownership is that high, it means only one thing - "they" are certain about price direction.
Which may be easier now that the dissenters are gone. The biggie is that they bought their 8% in late 2013 meaning their in at the low 30's so if they decide to dump their stake now they would incur a much more significant loss.
New to this and took a position just before close today. When is the best time to establish a position - close of day or start of the next? Also, how long do you usually hold? I ask because of the fact that "ultra" positions lose value every day even if the market remains the same. If you don't believe that go to fool com and enter a strictly long or short etf position portfolio to see what happens. The 100%'ers have only ultras in the line up and do the cake walk win.
Have you looked at float ownership? Get this - 114% Institutional, 54% short, 12% insider owned with a float of 60M. So, guess who is shorting? If you guessed the Tutes you win the prize. Here's my stupid guess - that they will ping pong this back to each other making around 8% a day (today's swing) until oil goes back up. And if they weren't that sure that oil would go back up, there wouldn't be that much Institional ownership. You hardly ever see this high of a ratio. Of all off shore drillers, this one has the highest. BTW I'm long.
Ah yes but the bliss of naivety. You've missed the point in entirety. Until you've been threatened at gun or knife point, witnessed a homicide, or some other violent and preventable act you will never see through your curtain. Bottom line is the violence and hatred are what we are trying to avoid.