I'm not worried about it. You're the one with his knickers in a knot.
The answer to your question is that stock prices go up and down. It's called a market. People take profits. If this comes as news to you, maybe it's you who's " coming off like a r3t@rd from Texas."
Some advice for newbie poker players might work for you: "If you can't spot the sucker in your first half hour at the table, then you ARE the sucker."
"World Doesn't Revolve Around This Message Board!"
For some posters it does ... unless Mom let's them out of the basement.
And the self-styled Commodity King, Gartman says $32 to $42, and Harold Hamm says $60 by year end.
Combining these geniuses we can expect oil to be between $10 and $60. That's why they make the big bucks, folks.
Assuming your cryptic post was in reply to me, I have never shorted a stock in my life. I'm long ETE both with shares and Jan 2018 calls. In the near term short covering is undoubtedly a factor in the price movement, but that has nothing to do with its long term value and price. The short covering is symptomatic of the changing circumstances of the company. Short covering is a reaction to the fundamentals. It is not one of the fundamentals.
In the longer term I expect ETE share price to go considerably higher, but the company needs to get past the merger and debt issues and the lawsuits. Your $10 call for this week was pulled out of what I diplomatically called your Magic 8 Ball.
I'm holding on for at least $15 to $20 in the not too distant future and quite possibly much more in the longer term, but I'm not pretending to make exact $ calls over periods of days or weeks.
This forum is increasingly less to do with ETE and more to do with Over-seasoned-investor's enormous ego, both of whom distribute enormous amounts of gas.
Give it a rest. Check the expiration dates and dosages on your meds. Emerge from Mom's basement a few hours a day.
I would never make predictions for prices on a day to day basis, but I doubt it's going to see $10 this week.
I've already said I see it reaching $15 to $20 in time, but obviously that depends on the market in general, energy prices, the resolution of the merger issue, etc.
Not sure why you're obsessed with the short covering. It's certainly a factor if you're making a call for $10 in a few days, but nothing to do with its medium to long term prospects.
On March 17 he posted:
harveykoff • Mar 17, 2016 10:07 AM Flag
I have lots of hope in ETE. I have 260 shares now.
I am already up $115. Hoping to keep it for many years.
More copy and past wisdom.
At least you should post attribution to avoid the taint of plagiarism. Probably too late in your case.
He makes forecasts in retrospective ... along the line of "it will rain yesterday."
And the mystery as to why you garner so many thumbs down deepens.
Copy & paste useless bits of information and regurgitate the things said ad nauseam by others to justify your Magic 8 Ball predictions. ETE isn't the only one shifting large quantities of gas.
You really think ETE is trading on fundamentals for the near term? Short covering and the outcome of the merger (and the latest rumor or speculation about it) seem to have put a lid on the price for the time being. Once the merger and debt issues and some clarity on the distribution are out there, it may move with oil and gas prices more directly. Eventually $15 to $20 are reasonable, but for the time being traders and algorithmic trading are playing it in both directions.
Might be that he fills the board with his copy & paste insights, such as oil futures pricing, that everyone interested in ETE can easily access for himself. If getting 20 thumbs down on a post doesn't deter him, he's probably a masochistic troll.
According to the NASDAQ website the short interest in ETE was over 80 million shares on March 15. That's roughly 4 days of 20 million shares trading volume.
I doubt many of them will be waiting until Monday to bail. The run up we've had the past few days is at least partially due to them. Hopefully the momentum will feed on itself. Now if we all agree to not sell our shares to them the squeeze could be even more enjoyable to watch. Make sure you wear HazMat protective clothing if you get too near any of them.
"It is not the debt load that is threatening the company. It is the ability to service the debt load"
A bit like saying it's not the arsenic that kills you. It's the inability of your liver to service it.
The inability to service the debt is why the debt load is a threat.
"Cramer will recommend ETE ETP again ..."
And tell everyone that he ALWAYS knew it was a Buy Buy Buy.