To answer your question, the following piece came out today:
"OPEC will maintain its production target next week, Libya’s deputy vice prime minister for energy said, joining Kuwait in predicting no policy change when oil ministers from the 12-member group meet in Vienna.
The output target will remain 30 million barrels a day, Mohammad Oun, Libya’s deputy vice prime minister for energy, said by phone Thursday from al-Bayda, eastern Libya. Oun will be part of Libya’s delegation to the June 5 meeting. OPEC is working on a long-term strategy draft to present next week that is likely to show projections of crude supply from non-OPEC producers are the same as those forecast in 2014, he said.
“The target number will not change,” Oun said. Libya is pumping 400,000 barrels of oil a day, state-run National Oil Corp. spokesman Mohamed Elharari said in a phone interview Thursday. That makes Libya the smallest producer in OPEC.
The Organization of Petroleum Exporting Countries will meet to decide on the group’s production target for the next six months amid a glut that sent prices down about 50 percent last year. Saudi Arabia, the group’s biggest exporter, led OPEC’s decision in November to maintain its output target to defend market share amid booming U.S. shale supplies.
Brent crude added 66 cents to $63.24 a barrel at 10:26 a.m. London time on Friday. Prices have climbed 10 percent this year.
Libya joined Kuwait in predicting no change to policy after Abdulmajeed Al-Shatti, a member of Kuwait’s Supreme Petroleum Council, said on May 12 that the organization will “stick with” its present strategy. Kuwait is OPEC’s fourth biggest crude producer, according to data compiled by Bloomberg. Iran’s Oil Minister Bijan Namdar Zanganeh has only said it’s “unlikely” OPEC’s output ceiling will change, according to Mehr news agency."
Answer: Four consecutive days of lower highs and lower lows.......
And earnings is right around the corner. Can we at least have a run up???
"Also as well as informed as you appear to be......."
Informed? His/her post was a copy and paste job. He forgot (?) to put it in quotes. :-)
"May 21 2015, 10:51 ET | About: Penn Virginia Corporation (PVA) | By: Carl Surran, SA News Editor Contact this editor with comments or a news tip
Penn Virginia's (PVA +3.1%) stock price target is cut to $7 from $9 at Imperial Capital, but the firm remains bullish on the Outperform-rated company and raises its 2015 estimates due to increased production guidance and a lower cost structure.The firm notes PVA is raising its 2015 crude oil production guidance due to an increased emphasis on Gonzales County, where the company has the highest returns, and that PVA looks to have turned the corner on completion issues that had hurt its development.The firm continues to believe that with its sizable inventory, PVA is an attractive acquisition candidate, and that dissident shareholders favor PVA being sold."
Not hearing anyone telling management, "Congratulations on a great earnings."
Other than that, everything else was boilerplate b/s......
First Quarter 2015 Results
"Overview of Results
Operating loss was $57.9 million in the first quarter of 2015, compared to operating loss of $14.1 million in the fourth quarter of 2014, excluding $667.8 million of impairments of our East Texas and Oklahoma properties. This decrease was due primarily to a $27.6 million decrease in product and other revenues and increased operating expenses of $16.1 million, which are explained in more detail later in the release.
Net loss attributable to common shareholders for the first quarter was $63.2 million, or $0.88 per diluted share, compared to net loss of $423.8 million, or $5.90 per diluted share, in the prior quarter. Adjusted net loss attributable to common shareholders for the first quarter, a non-GAAP measure which includes our preferred stock dividend but excludes the effects of other items that affect comparability to other periods, was $44.9 million, or $0.62 per diluted share, compared to a loss of $25.3 million, or $0.35 per diluted share, in the prior quarter."
Crazy as it sounds, I'd rather see us retracing up to the close. I'm hoping for the 'reason' to be manipulation ahead of a decent earnings.
Good luck longs....
An uneducated guess.......
I don't see it going below 4.50. However, I won't wait for 4.50 to add on. I'll be adding on if we go into the 4.80's.
Actually, it's honesty/facts I seek while playing this game. However, 'honesty' has a different meaning when imps like you post a message that begins with, "hate ta tell you fellas this , but." Whether honest or not, it's obvious you're posting your message with a smile on your face. You're not looking to inform. You're looking to inflict pain.
Even if you're short this stock, you need some growing up to do.......
"hate ta tell you fellas this , but"
Yes, you really hate to tell us fellas this, don't ya? (sarcasm)