You can see it in the gradually rising prices of both LINE and LNCO. Even in a panic stricken market worried about a government default, these two just keep climbing higher so the price is at parity with the expected exchange rate for the BRY merger. GLTA
What vote are you talking about? There is no vote on September 30th. This is simply the record date to determine who will be sent proxy materials and who will be permitted to vote whenever the companies schedule meetings to hold a vote on the merger. That hasn't happened yet. I'd just relax and enjoy your distributions. I'm sure before there is a meeting where a vote will actually take place, you will hear a lot. The S-4 has to become effective, shareholder/unit holder meetings have to be scheduled and if the vote doesn't take place until late October, you may even have a Third Quarter LINE earning report to consider. GLTA
I just went into my Schwab site and noticed that Market Edge just moved LINE from Neutral to LONG. Market Edge doesn't get it right all the time but they moved WLT to a LONG under $13 and it's now over $15. I consider this a positive for LINE. GLTA
As a lawyer with experience with these kind of lawsuits, it's my opinion they will all be settled for nominal value (see paying attorney fees) and they will drift off into the sunset never to be heard about again. GLTA
The current price of LINE isn't the result of "shorts", whoever they may be. Just look at BBEP. It's market price is foundering just like LINE. It's either year end selling or something more fundamental with these upstream MLP's that is causing the weak market prices. GLTA
BRY just reported earnings this morning for the 3rd quarter. They beat estimates and raised production guidance. It shows that LINE's management team knows how to identify attractive dance partners. Hope the merger gets done soon. GLTA
I think I posted a day or two ago that Market Edge moved LINE to a LONG. Market Edge is a technical service and I believe relies solely on technical indicators- not pending deals or fundamentals. The Market Edge evaluation from a technical perspective is still in place and I'm letting my 400 LINE November 26 calls run as far as they can until next November. GLTA
Oh yes there is. The questions would not be about the earnings but about BRY's unilateral announcement that it can cancel the merger contract after October 31st. LINE has a right to extend the merger contract until January 31,2014 unless one of the myriad of lawyer drawn exceptions applies. This is a question for the lawyers to work out and I agree, at this critical moment in the merger process, that the management should not be on a website discussing their individual interpretations of what the merger contract means. I think there will be plenty of opportunity after we get over this immediate roadbump to talk about the 3rd quarter results to everyone's satisfaction. GLTA
I don't see how option traders can be wagging this dog. I think we've had between 4-5 million shares traded yesterday and today. Convert that volume into options and the 5000 contracts you cite are nothing more than a pimple on an elephant's back. I have already posted several times that what I believe you are seeing are institutional investors who owned BRY because it fit their investment criteria baling out of LNCO, not because it's a bad stock, but because these particular funds don't invest in companies with LNCO's business model. Nothing sinister, and certainly not options, just an investment that doesn't fit their particular investment approach. GLTA
You know, I think you're on to something. Look at BBEP, it's doing the same thing. Sticks it's nose above $19 and is immediately slammed down by sellers to the $18.85 level. I personally think we're just experiencing year end buying and selling for tax reasons. I may be wrong.
I really have to differ with you. I bought my first big purchase right before ex-dividend date at $18.90 and sold Jan $19 covered calls against the long position at $.90. After receiving the $.55 cent dividend in my account next week, my holding cost on this purchase is $17.60. When the stock dropped to $17.95, I doubled my position and just sold covered calls against the new purchase at $.60. I'm well in positive territory and consider HTS one of the best trading stocks out there. GLTA
BRY was heavily owned by institutional investors. They were BRY investors because they liked the BRY business model. They are not LNCO dividend seeking investors. They now have voted for a successful merger and are cashing in both to secure their profit but to get out of a business model (see LNCO) that really isn't their cup of tea. Hopefully this selling by the new LNCO shareholders will wind down in the next couple of days and we'll see the buyers of their stock, who like the LNCO business model, holding tight and allowing the stock to move up again. I think it's a great time to buy LNCO and just added some more shares at $28.70. GLTA
You can't be serious. BRY got sold and it's stock does't trade any more during the day or AH. My advice is you keep your money in a bank saving account.
Why are you even here posting as a BRY shareholder? I personally doubt you are a BRY shareholder. Otherwise you would have heeded your own sage advice and sold and moved on. Instead, you seem to hang around the message board telling everyone to sell. It makes no sense. GLTA
You know, reading your posts and those of HappyNorris, whoever he really is, reminds me of the movie "Grumpy Old Men". Both confirmed in their convictions but hilarilous to watch.
The simple answer is "Yes". Not as much as in the glory days a few years back but they are going to survive this downturn one way or another. If you will look at the balance sheets for the last three years (it's a tab to the left of this screen) you'll see that stockholder equity doubled over the years 2010 to 2012. This was a result of positive cash flow that you were inquiring about. 2013 is a tough year but, hey, this is a cyclical business after all and it's going to have its ups and downs depending upon so many different variables that it's not an issue worth discussing. Some investors just bought $450 million of Senior Notes so at least someone out there feels there will be adequate cash flow to service the interest obligation and pay off the principal. GLTA
You know, I think you're missing the big picture. As a time worn Yahoo customer I'm used to things I've always used. I dislike changes from comfortable surroundings. Yet that is what MM is doing. And apparently Wall Street is applauding. See where the pps is going. MM is into mobile and entertainment. She doesn't need a Walter Cronkite. Katie Couic has a name and is hot. That's really all you need to know about Katie and how many more celebs she can recruit under the Yahoo banner.I think MM is doing a fabulous job as CEO and I wouldn't want to second guess her for a moment.