Sometimes,the SEC just doesn't ever close informal investigations. The SEC is very statistics minded - wins and losses. That is why they go for the low hanging fruit instead of chasing the really bad, hard to convict people. So, if they don't find anything wrong, they may just put the file away but never close it, so it doesn't count against their statistics. I have seen investigations that were still open after 25 yeas and nothing had been done on them for decades. Other times, you have to offer them something for their statistics before they will close the file. I once gave them an injunction against a subsidiary that had been defunct for years in order to get them to close a file against a client. An injunction against a nonexistent corporation still counted as a win!
What you say is BS. In my forty years of representing companies with the SEC I know that they would never clear the documents if they had any thoughts that the accounting was wrong and would have to be changed. Just talking out of your hind end.
Well you must have gone to a different chart school than I did! I'll be darned if I can find a right shoulder at all. Maybe a head and a left shoulder, but anyone knows that it is only after the right shoulder forms that you have a head and shoulders chart formation. Perhaps it is a crippled man formation or some such.
Also, it is not that stocks like PXD never go up and down either. PXD went from 192.05 to 224.95 and back down to 107.54 during that same Oct 6 to present time period. You could have made money both ways on that stock too. It just does not channel as regularly as RRC. But, I am not trying to sell anything; do as you like. I just suggested that you might be able to make some money buying and selling RRC at the appropriate times.
Yes, I mean exactly that stock that wen down 7 to 10 points last week. The beauty of a channeling stock is that you can make money both ways. If you had bought at 73.55 on Oct 6th and sold at 81.11 on Oct 16th, you would have made $7.56 per share less commissions. If you had shorted at 83.11 on Oct. 16th and covered your short today at 73.64, you would have made another$9.47 per share. If you buy today, the odds are that it will be higher a week or ten days from now and you can again sell. If it keeps on channeling, then it will probably drop 7 to 10 points thereafter and you can repeat the process.
If you look at the charts, RRC has been channeling between about 75 on the low side and 85 on the top side. Just bounced off the lower Keltner channel. Both W% R and StochRSI show it id time to buy. MACD has not yet given signal. Should be good fro a short term 7 to 10 point play. JMHO.