I reign in San Diego where the weather is on average about 70 degree Fahrenheit year around. No one turns on the heat here.
Energy prices are going down for the national elections to help out Congressional Republicans. But I fully expect a spike in the share price after the November elections.
Stick your head in the sand that politics is not going to effect this stock is foolhearty.
Max Blumenthal: The Swift Boat Connection of ABC's 9/11 Deception. It Appears ABC Knowingly Collaborated with the Fringe Right Wing on "The Path to 9/11."
Payback time in November when the Democrats take control of the Congress.
Just the other day a panel discussion whereby Fox News' Neil Cavuto discussed Exxon's staggering quarterly earnings with Sen. Byron L. Dorgan of North Dakota, ranking Member of the Subcommittee on Interior, a vocal proponent of a windfall profits tax on oil companies (perhaps Senator Dorgan's crusade would have more traction were he to call it a "War Profiteering Tax", given that oil company earnings have escalated in almost direct tandem to the length of the war in Iraq).
Over seven million Americans can have a raise of $2.15 an hour by raising the minimum wage, but only if we give a tax cut to 7,500 ultra-rich people at a cost of $753 billion dollars."
I will be the first to admit that I have no idea how this will play out. And I am not so sure that it will probability lose.
I have seen these bear traps before and they get people hyped up with high expectations only to be disappointed with dropping share prices later. I have been following this stock since May 4th when it hit about $7 per share, but ever since then it has been on a steady decline. It has been on a serious decline when Lilly decided to challenge the last court ruling and traders are suspecting that Lilly may have a case. Fears, uncertainties and doubts have played into this stock's decline.
I see no news on today's upmove and the trading volume does not give me a clue about any institutional buying. However, you may be right that some big money daytraders have decided to move this stock up. But don't ask me, because I just do not have a clue as to what is happening here.