$49 is the temp stop. The recent price and volume indicates the shorts have done this stock giving the management change was in place. I have been accumulating this one in low $30's and patiently waiting for the moment to get out. So $48 and $49 are the place to get out, but the buyout/consolidation may offer additional value of $20+. $60 is the long term value.
I agree fully. Once oil @ $55 is tested as the bottom, gold will take off. $100 trillion debts chase 4 billion oz gold and silver excluding any derivatives. $5000/oz is no brainer. The trading pattern here is $2.8 buy and $3.5 sell. This MM knows that it is about on the long side.
You wonder why this company let Ron as CEO/CFO/COO and eliminate all useless staff. Since Harlan has no compensation and works for his brother Sam, Ron may need to get a full time job else well. Joel is a joker as this PIPE financing he started with in 2009 killed SNT with 100 to 1, why still keeps him is any one's guess.
I did load SU and USO, the purpose of this takedown is obvious - No more unproductive oil producers. Low cost and strong ones stay! Yes, $55 is the lowest you can get!
wrong, when they have this PIPE financing in place, the # of o/s shares will be in 40 million. It will take this CFO 3 months to figure that out. It is not fully disclosed on its web site. PIPE financing derailed this company for 100 to 1 reverse split. Now, $10/share after reverse split became $0.5/share, that would be equal to 2000:1 reverse split. PIPE killed this company.
CVX will be merged with XOM. OPEC is doing what they need to do to eliminate the competitions.
The notion is oil is not free for all. Either $40 or $50, the last survivor such as COP and XOM will win. So, it is a buy and no deflation. here