They are gapping this down after a significant beat and positive guidance. Someone sold at 39. Maybe it is a short that wants it down so they can get out lower. Big money folks really do control the market. Company made much more this quarter than they did a year ago when stock price was 52. Did pay a higher divi then.
They did lose money. They can take all the right offs they want but in the end, did you make real money? Over the years there has been some intolerable mismanagement at this company. Yes wall street is making money on the short side. If they decide to continue making it on the short side this is going lower.
HFC did very well this quarter. Patience will still be the key as the oil and gas companies are not done discontinuing some of their drilling. There are still going to be a number of contracts that are not going to be renewed which will probably see drillings go lower yet. The hope is that they do not make a lower low. Look at how the drillers have sold off after CHK has shared on their conference call how many rigs that they will cut back. Full disclosure. I sold my HFC earlier and will be watching for a better price before I make an investment. GLTA
Of course I could be totally wrong on HFC and they will be able to keep their margins up which will mean as a refiner they will still do well. Time will tell.
Not willing to give guidance creates more uncertainty to go along with your thinking. It could drop another 50%. Do not think it will but the trend needs to change before interested in buying.
Certainly appears that it will go even lower. What was the other company? Starts with an "E"!
This stock has had a big run since the beginning of the year. This could be a sell the news and get back in later. Will depend on where wall street is positioned.
Wall street wasn't long as they had a chance with this big earnings beat to have a great up day. Appears they are having to take it down before they get long. Nice gap and trap. Question now is how low do they need to take it. Hopefully for the longs the 33 area does it. GLTA
Very valid points and again the trend is your friend and it appeared wall street went short in the 37 area. Now they take it down. We are already down 5% today and falling. With the irrational changes in the stock at the 35, 36 price this morning I would agree for longs it would only be a trade with a stop loss. If not one sees the result.
It looks like there where some big money shorts in this from 36-37. They took it down to under to under 33 and began covering. If they have covered and go long will be interesting to see if it can take out the high of the day. Definitely a volatile stock. Confess that I did go long at 33.10 for a trade. Not an investor in this climate. Still holding as there has been significant volume in the move up. Do not buy on what I have done as they could take it back down. I have some to play with. GLTA
Decided to sell at 34.10. Approaching lunch time and mm know their orders and may use light volume to take it down and then cover. We will see what happens.
Of course making new 52 week lows. 96 at the beginning of 2014. Has continued down making lower highs and lower lows for over 16 months. Still doing the same thing. Analysts telling folks to buy all the way down.
Hate to think of how much some folks have lost.
Broke below 22. Obviously wall street is not buying and someone has to be doing a little shorting as most longs are not going to sell now unless margin calls. I am just watching waiting for an opportunity to make a little money long. Do not see that opportunity yet. May be getting close but may be a long way off. Market still near all time highs so if we have a correction this is an easy one to go lower.
I am sorry but this company has basically shared that they will sacrifice folk's health and break the law in order to make a dollar. On principle I would not buy anything from this store. Do not think that this is the end of their problems. Business is going to get more difficult now.
May be possible.