Wait, Yahoo board poster says XOM won't buy WLL......Bloomberg reports CLR and XOM are definitely interested......Who should we believe?
Cover and get it over with. The pain increases when the bids start coming in....I know, pumpinoat, I've been there.
The shorts were caught way off guard at 3:50pm Friday, when the stock spiked after the Bloomberg report. So now that there was no news reported yet this am, they're trying to press and force the price lower, so they can cover lower, before the news does appear. In the process, they're stealing the shares of those who bought late Friday. There's no reason to sell, because whether they sell strategic assets, or the entire company, it still bodes well for Whiting shareholders. As for me, I bought this stock in the mid $27's in February....so there's no need to trade this back and forth, unless you like paying huge fees to your broker.
Do not let anyone take your shares. This was a great report, and they guided higher. Analysts will raise price targets tomorrow. This would be a good time to go long......
But it DOES mean the stock will go up, as potential suitors line up, perform their own due diligence, as traders accumulate the stock. And of course while this happens, the crude picture improves, WLL resumes its strong growth, and the takeover price goes higher. It's all good for Whiting Petroleum longs, starting this week.
If you guys follow Level II, the quotes are comical. I find a lot of the quotes from the EDGX exchange are fake, that is they're thrown out there probably by the market makers. A few minutes ago there was a bid for 7,200 shares, at about $54.80 or so. As soon as it traded a bit higher, the bid disappeared. I think the MM's do this to provide liquidity, esp in the light trading in AH.
Yes, as I said yesterday growth is slowing, so the market is repricing the stock. But now it has stabilized, and is trying to form an intraday base, which is why I decided to go long just now in the low $54's. There's nothing wrong with this company, and Wall street always seems to overreact to both the upside and the downside.
Please tell me you're not as stupid as your post.....
Cramer is laughable....He was positive on the deal when it was announced, and now that it's dead, he says it didn't make sense. Your basic fair weather guy, he's never wrong.
Most of my watch lists are bright red, and yet the market are still up. This can't last.
Gee, what the hell do you want them to say? "Hey everyone, we're sorry our stock has fallen so much today." Public companies don't normally comment on stock fluctuations.....that said, health care and biotech is getting pummeled today.
Does WLL sell cords, switches, and toys too? I thought I'd add my stupid post to match yours.
As you know, the stock market is comprised of public companies. Public companies cannot comment publicly on private, ongoing negotiations that could lead to a material event, unless there is a material event. In that case, they're required by law to disclose the event, and they file an 8-K. Simply put, there is no confirmation yet from Whiting, because the negotiations are still going on.
On the other hand, in my experience, Bloomberg is a very reliable source for business information. I personally checked out the two journalists who wrote Friday's article, and they're legit. That said, there are no guarantees in the stock market, you know that. My personal opinion is that Whiting will announce that they have an offer from one of the majors to acquire the entire company before the end of this week.
The Bloomberg report late yesterday, written by two reliable journalists (how do I know that? I checked them out), states that Exxon, Continental, Statoil, and possibly two other companies are interested in acquiring all of Whiting, not just strategic assets, according to the report. Anything can happen next week, but I wouldn't sell my shares regardless. If you're just a day trader, you have a lot at stake; if you trust the process, you can wait it out. And even if there's a bid for the entire company at $48 a share or thereabouts, I'm still not selling, because I'm sure we can expect a competitive bid......Stay tuned.....
this is absolutely hysterical all the FUD the shorts are posting. They're clearly scared to death, and have no idea of the potential value that WLL has....so they post things to scare traders into selling. Well I'm here to tell you the shorts are screwed and will have to cover at higher prices no matter what. The company is selling themselves to the highest bidder.....what is so difficult to understand about that? When this news is announced by a public company, the stock goes up...... The only question is, how high will the stock go in the days, weeks, and months to come? Smart money will accumulate the stock now, as they realize the value of the North Dakota properties, and more importantly, as potential buyers realize that opportunity.
We all know oil won't be at this level all year, that's a given. Anyone stupid enough to sell their shares now, should not be in the stock market, or at least not trading on their own. This news is huge for longs, plain and simple.....but don't take my word, let's see what the market says over the next few weeks or months.
You'll see a brief gap up in AH on the report, then a strong reversal down in AH. This will be followed by a huge down market day tomorrow.....This will set the stage for a major market correction.....
Next to the futures market, oil is the most manipulated trade of all. Notice all the oil and oil service stocks are also falling. The oil rally is way overextended, and now it's headed back down.
I don't know why you bother, no one believes any of your claims.