I believe he's long, but just the most pathetic long I've ever encountered. He doesn't have the personality of a short, which is usually aggressive, arrogant, and often condescending to other traders when bashing a stock. I believe he's just expressing self-destructive tendencies in both holding the stock and continuing to criticize it publicly. I can understand that because I'm also very hard on myself after making poor trades. I believe it's also Mike's way of coping when the stock continually underperforms expectations. Unfortunately, we are on the receiving end of his venting. I sympathize with his frustration because I've also lost significant money on this stock and agree it is highly manipulated and very difficult to trade. I believe Mike could use some counseling to help control his obsession with HERO and move on with his life. It might also help his attitude if the stock price moves up from here and stays up.
You're probably right, but I usually max out my margin when I think it's a super buy. I thought HERO was a great buy when it dropped below 4.50, so went all in between 4.40 & 4.50. I never dreamed it would drop below 4 just because of the loss of that one contract, and even the GS downgrade, especially when HERO, the sector, and the market have been steadily improving. Usually when I get overextended on a big dip with other stocks, they rally enough within 1 to 3 days that I recover my loss or make a profit. With HERO, there's been no significant rally after 5 days, making me suspect major manipulation.
For me at TD Ameritrade, it was 40% margin above 4 because I held just one stock, and 50% at 4 and below, so I had to sell more than I wanted today. I and many others had margin calls since Monday and had to satisfy them within the 5-day mandated period, by the end of trading today. As therivertrapper said, It does seem plausible that someone was holding the price down to 4 or below to force as many as possible with margin calls to sell cheap today. If that's the case, the price may start moving up on Monday, and the manipulators will make most of the money. I agree with others in saying I've never seen a stock as manipulated as this one.
If you're a "pattern day trader" with equity of at least $25K, like me, you can trade one stock as many times per day as you like. I sometimes trade the same stock as many as five or ten times per day, and have been doing it for many years.
You're also missing the fact that many daytraders buy and sell the same stock multiple times in one day, to take advantage of dips and rallies in price during the day. This is especially true of stocks that receive a lot of attention due to high volatility and volume. So, less than 15% of shares outstanding were actually traded during the day, because many individual shares were traded more than once.
You said it would never hit the 4.60s again and you wouldn't post again if it did. It did hit the 4.60s after that, so why are you here? You are just a serial basher with no credibility.
Aspen's offer was actually for 6.86 per share, not 6.19. Motley Fool and Seeking Alpha incorrectly divided the offer amount by the shares outstanding, when the offer was actually for the 90.35% of the shares that Aspen did not already own or control. The offer of $640 million divided by the 93.34 million shares that Aspen does not own or control results in an offer per share of $6.86. That's $2 higher than the closing price today, which leaves a lot of upside potential before the deadline on the 13th.
The fatigue is from listening to your mindless repetitious bashing and the rust is in your brain synapses.
Aspen's offer of $640 million is for the 90.35% of the stock it doesn't own or control, or 93.34 million shares (103.31 - 9.97). That's 6.86 per share (640/93.34), not the 6.19 per share reported by Motley Fool and Seeking Alpha. Aspen said it expects to make the offer, barring unforeseen events, which would subject it to liability if it didn't follow through. That makes the closing price of 4.95 very attractive, and a price of 6.00 or higher very reasonable in the next few days.
She's the CSO, not the CFO. She exercised an option on April 1st to receive 137,300 shares for $0.01 per share, and sold them all the same day. It was part of her salary, not an investment.
You're right, it will never close in the $3.60s again, but it will close in the 4.60s and higher.
Why are you still posting on this board? Your latest postings have as much value as this one - none.
They did sell one of the ten in April, the Hercules 2002. They will probably sell more as the economy continues to improve and there is more demand.
At least the new rig is not old and rusty, which has been your main complaint. It will add almost 10% to HERO's revenue, at a total cost that will be paid off in just over three years of operation. HERO said, "This investment is also consistent with our commitment to renew our rig fleet with high specification assets...." That strategy will make you and your complaints obsolete.
The trade at 4.36 is most likely the late posting of a trade that occurred during regular hours. Otherwise, it would have also taken out the many bids between 4.36 and 4.61 at that time, which it didn't.
You've also learned to be the most pathetic, repetative, and least informative poster on any message board. Good job!
No, I believe it means the shorts are too stupid to realize they've overdone it and the only way to go from here is up.