Looks like they are fishing, they can move it 3 cents on less than 30k shares. It's looking like they have run out of shares to buy and are trading between their own accounts attempting to trigger some selling. When they are used to making a lot of $$, it appears that the well has dried up.
The latest is says in "certain situations" Which keeps them in the drivers seat for choosing when to and when not to do it. So, basically it is a dance around our justice department.
Only 3 high volume pushes and the first one was positive. There don't seem to want it to go past 2.38 or perhaps they are willing to accumulate it there.
Also hard to have gains when the markets are down 1.1 to 1.7% for the day. A lot of early morning pressure good opportunity for Shorts to cover.
Very true, but these guys will ride the stock in both directions, they were able to do a lot of covering over the past week. Once they get their quota they can push it up just as fast as they pushed it down. Now that the margins have been wiped out their incentive to go lower is not very strong.
264,400 shares were traded at exactly 1600 hours to drop the price to 2.36. 6.4 million shares traded today, which may indicate the short selling is over. If we close higher than this on Friday with less volume, it will be looking good for the longs.
The oil Glut can change overnight with the problems in the Middle East.
HERO owns the Gulf, because of the relocation expense of outside Companies.
"Surplus of Cheap oil" I do not consider $90 cheap. I saw a Oil executive on CNBC 6 months ago who stated with today's techniques, he could make good money @ $50 oil. He was land based however.
It was also stated that the biggest problem with the U.S. oil market was lack of refineries and the few we have are outdated (like our rusty old rigs).
I am looking for strong gains by next July.
It would seem to me, that during Hurricane season would be the time to getting all the permits and paperwork lined up and getting bids, so as to be ready to drill once it passes.
Different brokerage firms have different ratio's for margin. Mine dropped @ $4 again @ $3 and then fell out completely @ $2.30 (strange amount).
The old rigs are perfect for Mexico. They have been buying our 20 year old Fire Engines for the past 30 years and they are still using them. The Mexicans are some of the best field mechanic's in the world.
Not going to happen. A very cheap buyout offer would still need to be in the $5 range, and it would be fought by management.
Do I need to point out that they have been buying stock in HERO. So it is in their best interest. Also, it is hard to fight WalStreet greed and manipulation backed by artificial currency. On the plus side the greed and manipulation is not limited to the downside. they make equal money in both directions.
Most do not, they care about running the Company and getting contracts. If they do their job the stock price will follow.