Riggers going the way of the coal companies. Many will not be around for long. Competition is becoming cut throat. Company's like HERO will be going bankrupt. Only the best and most profitable will survive this storm and HERO is not one of them.
After Susan Decker spoke on CNBC it appears a lot folks are taking their profits. Can not really blame them.
She left a big sense of risk in the trade where before investors felt assured they would be making more.
We will see were it goes today but at present it appears I may have been wrong. I do think that this stock will close higher next week but was thinking it may have a pullback today or tomorrow. Maybe the big boys have accumulated enough and it moves up from here or premarket may be a gap and trap. We will see.
New technology replacing the old. A continued downward spiral with folks continually catching a falling knife.
Yes they are oversold and RSI's are under 30. Yet they continue to fall. In 2010 DO was 110. Market has been a wild bull for over 4 years. DO has bee a sleeping bear with a price of 38.54 and still falling. I shared the same theme will coal companies in 2011. WLT was 140. So it was a bargain at 80, 60, 40, and now 3.44. Some drillers will make it through and others will go bankrupt. I do think more drillers then coal companies will survive.
Obviously it is a treacherous time out there. The oil companies will squeeze the drillers so be careful.
This stock will not see 5 dollars again. Really who is going to buy this company. These companies are not expanding, they are down sizing.
I agree with you 100%. This was a manipulative short ploy. They said that it was subjective which means nothing. But it does permit them to be void of any manipulation while they made their money trading this stock for the last eight days. Made for a little exhaustive day in a light trading stock like DORM.
Here is what caused the big drop.
Dorman reported results have 'sizeable subjectivity,' says B. Riley
After conducting channel checks, B. Riley says it uncovered a little known program carried out by Dorman, in which the company ships new products and line updates to warehouse distributors, but the warehouse distributors do not explicitly order the products and are typically given the right to return unlimited amounts of the products for one year, according to the firm. B. Riley believes that the challenges associated with estimating returns from such a program are considerable, and make the company's reported results significantly subjective. B. Riley reiterates a Sell rating on the stock.
Heard that folks could get off on the 36th floor. Lawyer's floor for folks interested in getting some money back.
Poor joke for longs.
Riley comes out and says that they are cooking the books. Trend down continues with no response from Dorman's.
Called the big money give away at Dorman's. The elevator didn't stop at the bottom floor. Feel bad for share owners of this company. It is a company that is making money yet the share holders getting slaughtered by wall street.
What stock are you looking at? It was April fools for all the folks that bought then. The shorts have won big time from 60.71 to 39.27 in less than 6 months.
The CFO sells 20.000 shares and that is why the stock is down. He still has nearly 663,000 left. They sell shares to buy some luxuries. Wall street uses what ever they can to make money manipulating stocks. No shares myself yet as I am waiting to see when the downtrend ends in MU. Still appears they may take it lower.
We have had a long bull market. Now they are starting to short more strong good companies. This is often the precursor to the elevator beginning to drop at a faster speed. A 10% drop in the last six days with no negative news on MU is a significant drop. This is not retail investors doing this. For myself I will remain in cash. Not liking what I am seeing in China, Scotland, Europe, Russia, Middle East and North America.
Yet they took VTR down more than HCN. When easy money to be made wall street is there. I was just following what they were doing. Another example of doing what the market is doing not what you think it should do.
May everyone have a great week-end.