They've been taking steps to pi__ off WMB for quite awhile in order to enable either the termination or renegotiation of the acquisition for quite awhile, including a change from the optimistic $2 billion in synergies to something far more pessimistic, the convertible preferred, the potential taxable event for WMB shareholders, etc. Whatever happens it'll cause Cramer and Faber to have an on air spontaneous #$%$ while they make a total muddle of the details.
The short interest is undoubtedly a factor in the short term price movement, but it's only down about 13% since the recent rise in share price, which means it's pretty sticky. Pretty sure many of the shorts still anticipate issues going forward, rightly or wrongly. Obviously most of the daily selling and buying is not attributable to them. People who are long the stock sell shares too.
Wrong. They've said they'll release earnings after the market closes on the 4th, which is the first day the stock sells "ex-dividend." "Ex-dividend" means that anyone buying the stock that day or after will be buying it without the current dividend. If you sell on the 4th or later you will be entitled to the current dividend.
The stock sells ex-dividend on the 4th. You can sell it as soon as the market opens on the 4th.
They have stated that they will announce earnings on the 4th after the market closes. So yes, you can sell before the earnings are officially announced.
Because of the three day lapse between a sell or buy transaction and the record date, if you sell on the 4th you'll still be the owner of record on the 6th.
"ETE plans to release earnings for the first quarter of 2016 on Wednesday, May 4, 2016, after the market closes."
Record Date: May 6, 2016
Ex-Date: May 4, 2016
Why would they care if you held or sold? If you sell, that means someone else will buy.
It is/was a real rally. Whether or not it holds, fails or continues doesn't make what's happened so far fake.
The sell-off in energy prices was real too. Just as the earlier rally to over $100 was real. Both were based more on speculation than fundamentals, but it doesn't make them fake. The incursion by the US into Iraq was predicated on lies and misinformation, but it was still all too real.
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.