You can't rely on Yahoo - do your own math and you will see that there were 8.44 million shares shorted in March and 76.4 million in the float, that means a short interest (middle of March) of only 11.3%. So - where exactly does the 18% come from - Yahoo numbers can't be trusted. I've seen my own orders not reflected in the order book - so believe me, you have to do your own math!!!!!!
I wrote on another string that the Abraxas story rings true here. When Abraxas was at it's bottom the short interest was overwhelming and the shorters got their rear ends handed to them on a platter. I see a similar situation here.
Keep this in mind about shorters: they are bigger risk takers, they wheel and deal and pursue trading strategies that most don't - same can be said for those that trade options. They're simply a different animal than most "investors" who buy and hold because they chase "value" and NOT the "Deal".
So have the big risk takers taken this risk because they are sharks and somebody chummed the water? Or are they right?
I suggest sharks have been duped by chummers... The fundamentals are here! The shorters won't be for long!
Fabricone, hold steadfast (seems to be your MO anyway). You are getting criticized for telling the truth. Keep up the truth and your stiff upper lip, and chin, and all the rest of it.
I'm listening and not criticizing you for telling waaa waaa babies the truth, no matter how much it hurts them. Like you, I've been buying on the dips. The Abraxas story rings true here. Keep the faith and watch the whiners run for cover. - And I be not impressed with hulk, His jungle boogie talk be dumb.
That's all great an everything, but what if it never hits Your objective? What if $4.12 is the highest we're going to see for the next year and Bob Watson gets killed in a car crash tomorrow? I'm afraid your objectives may not work for the rest of us....
All of you have posted what seem to me to be mostly thoughtful comments. I am relatively new here and came to this stock via an article by Michael Filloon (SP?) on Seeking Alpha. He is usually correct and I have a fair amount of money by following his recommendations in the past. I am still trying to wrap my head around this company and would be most appreciative if one, or all three, of you would make your case for owning this company - Specifically. A comment like they sell oil and oil is only going to get more scarce over time is not helpful. We all know that, and there are a LOT of oil companies out there - so why this one? What is their unique position? What do they do that no one, or very few others are doing? Who own's this stock that is a super genius (great validation)?
Thanks to all for your help!
Does that mean you are buying on the dips?
It says the 31 million is from "other Income" and NOT form continuing operations... What the h#$@@? If itn's not from continuing operations, where is it coming from and how could it possibly be considered "predictable". This IS an unmitigated disaster!
I keep hearing this echo "Margin call, margin call margin callllll......" Nyuck nyuck knuckleheads
You write that you are strictly a trend follower,2 things:
1. How do you account for the trend that went from 1 day to cover short interest to 7 days to cover? A trend that has been rising since last fall.
2. If, as they say, the trend is your friend, when do you see the downward trend of this company's price reversing?
I hope you're right. I bought AXAS as it dropped and bought a bunch at $1.72. Sure glad I did!!! When will this one turn? AXAS seems like a simpler story than this one.