Is this a wishful thought or do you know something else going on? Broken all technical right now and would really need to work hard to turn around! This has become a very frustrating stock.
Don't see the break point at $40. My charts show $38.63 as support point and if breaks that then down to $34.96 . Don't see it going that far down though given Volume At Price bars.
Hasn't Gabelli been working on this deal for over a year now? Am I wrong? Why should it be taking so long?
I've been tracking SD against other oil companies and I would agree, other oil companies have just about caught up or are on par now with SD advance cliff dive
News flash ---- EVP - Duane M. Grubert is on vacation while SD house in flames. Bennett not taking calls.
Do you guys know that SD has an in-house investor relations team of 6 people?
I guess when Grubert is away, they have no clue what to do!
I describe SD management as Deaf, Dumb and Blind (and not necessarily in that order).
In looking at all their presentations, press releases, etc.... it looks to me like SD management come across as DEAF, DUMB and BLIND.
Barclay's presentation referencing new techniques that have been used by other E&Ps for some time and producing minimal results based on recent well reports.
Now turning to 3D seismic, because they appear to be clueless as to where to drill.
Praying for IRS to approve salt water spinout.
Just hopes and prayers from what I see by a group that I think has started to panic!
Watching paint drip on this one....range bound for way too long...just wondering what will it take to move it higher...hopefully
IMO, Barron's and its "feeder funds" are irrelevant when questioning the accounting treatment of LNCO/LINN derivatives.
Isn't KPMG, their auditors, responsible to ensure that the financial statements (including derivatives), are fairly presented under GAAP (not non-GAAP accounting). Have not a slew of investment banks on both sides of the LNCO (LINN) / BRY deal not vetted this whole thing?
Are controls lacking, as required per SOX404, that should have resulted in a material weakness?
Is Barrons (and the media) and Hedgeye along with all shorts saying management and auditors are all incompetent?
Or maybe the US financial system, wall street and everyone feeding the system are making it into a bigger problem than it really is for personal gain.
I do find it odd that the SEC is taking on a "non public" inquiry. I ask of what? It is unclear.
Wasn't the SEC already going through the documents for the deal anyway?
Why did LNCO/LINN disclosure the "non-public" inquiry?
Maybe the issue is a FASB issue and that derivative accounting has become a joke.
Oh well, here comes more rule based GAAP accounting for the entire derivatives market.
Sorry for the rant, but WAKE UP AMERICA.
There's something said to the KISS method.
KEEP IT SIMPLE STUPID!
I went long stock on Friday...bought a bit more at low today, so I'm good with the 180 today...blame iPhone on auto correct for spelling....this situation clearly shows how the Wall Street casino continues to go unchecked....earnings will tell the tape eventually, but until then...price action is a game of craps!