very strange, it is a 100 share sell every 3 seconds, no matter what the bid is. So it has to be a computer programmed to sell 100 shares at market every 3 seconds. It has been going on for quite a while now.
every 3 seconds on the dot, they are selling 100 shares @ .071 chipping away at a 50k buy order. now if that is not manipulation what else would you call it. This is a programmed trade.
And this super rig will have no competition
And they are depleting their reserves at the same time. If we get a business person in office in 2016 who supports USA oil and provides the necessary incentives. The USA could hold the prices down and the Saudi's would never recover. The Saudi's are playing a very dangerous game that could really destroy their economy.
As long as HERO can last a solid 2 more years, and I cannot see why they won't with the Highlander contract just around the corner. Once Obama is gone,hopefully he will be replaced by someone with the Balls to defend American interests and take some serious Sanctions against the Saudi's. And/or provide some serious tax incentives for American Companies to allow them make a profit @ $30 oil and beat the Saudi's at their own game. For now, I am going to round up to 250,000 shares and put it on the shelf and hopefully in a few years it will have been the right move. And if not, it was an fair gamble.
I just bought more. (although way down), reason being is even with the 3.1 for every 100 the new shares will be worth 3 times more than our shares are now. The Arabs have won this round. I can afford to put them on the shelf for 5 years IF I have to. The Arabs have a limited supply of oil and no other economy to fall back on. So let them deplete their resources. Oil will come back as it always has.
They have working contracts, they just have to downsize and work within their income. Thus the bankruptcy.
They need to do what ever it takes to survive at this point. Very little downside from here. May take years to come out of this. Not worth selling now,just put it on the shelf and check back every few months.
And they cannot cover by trading between themselves as they have been doing for a year+. They will have to buy REAL shares. And I do not think there will be enough available.
agree, I am in your position as well.
except while water quality is decreasing, gov't regulations are increasing. fresh drinking water is the gold of the future. Ever notice how cancer rates are increasing all around us? Good chance it's chemicals in our water.
One thing you are forgetting, the price of oil and these new contracts will also lower the break even point. Salaries, materials, fuel to operate these rigs has dropped as well. over a million people got laid off when oil dropped below $60. These people would gladly come back to work at a reduced salary. $67,000 a day is the rate they are making, They would not have taken it if they were not able to make it work. This is a business not a Governmental Agency. They must and will work within their means.