I guess you didn't get the email. This market doesn't know how to rebound.
It is all over for short term .vnr will go under 5 . Only way to save yourself is to short.
LRE alwyas has traded between 10 to 15% discount to VNR merger ratio. The spread has widened abit more ever since VNR got added to couple of indexes last week . It will be interesting to see what happens on merger. Will the Market maker crooks bring VNR price down to LRE level or move LRE price up to VNR level.. If you know how the crooks in wall street work , you know the answer already.
VNR Up ! LRE down.. what is new ?? I tried your suggestion an sold some VNR october 9 calls.. If you can't beat the thieves, Join them !! Hope the calls finish worthless.
I think nowadays proxy solicitation is done by third parties who are hired forthat. However most of the management will be shown the door after merger and it is going to be tough for them to find another job in this oil & gas environment. So most probably they will be forced to reire ...
Problem with options is, spread is wide and premiums are not that enticing. Can't wait for October 5 for this dud to disppear from my portfolio.
When VNR Goes up by 6% , LRE goes down !!
Lesson learned : Never inevst in an illiquid stock irrespective how cheap it looks. Illiquid stocks are for Market Makers to steal investors money legally. Period.
Armistice look like daytraders. If you look at their latest SEC filing, they have been day trading this stock since July first week . Their plan seems to be buy below 7 and sell with 20, 30 or 40 cents gain whenever it gets there. No wonder they could not make the managemet to listen to them.
I saw that and checked LRE's SEC Filings . There is nothing like that in LRE's Filings. VNR however has similar statement in their SEC filing but that is not specific to either company. I was worried since LRE made a deal with banks few weeks ago that they wont distribute more than 1.8 million when the merger closes. That is only about 0.06 .. They never updated after that.
Hm.. wishful thinking. I dont think this will ever trade over 5 .. Those days are over. Only hope is to complete the merger and hope VNR is more liquid stock than this dud. Today oil is up, all MLPs are up clot to 2% and this dud is sitting on neutral line .. MM for this stock is a thiief !
Shorts are stealing the money from longs - like candy from kids - That is what incompetent and unreliable management can do to shareholders .
I can understand you frustration as 'buy and hold' investor especially with a stock that goes down on a day that market rallies.. Buy that is because shorts love incompetent management that never keeps up their word. and are easy target.Goo luck to you .
I was thinking of buying back some and was wondering why the momentum has disappeared. Obviously market has lost the faith,May be I will revisit when shorts take it down by another notch.