It appeared to have been consolidating in the $8.10 to $8.30 area recently and the way it is hanging in today it may be ready to break towards $9 again.
It's time to shuffle the deck in the executive suites with cost over runs and mismanaging a gift opportunity handed to SO by the Feds with nuclear. Rates are still ridiculously low and other utilities rise on days when SO is down. Ever since SO announced the problems with delays and higher costs the shares have acted like a bigger dog than most utilities. If the 10 year ever got to 3% shares would be under $40. I have owned SO since 1986 and have seen share price drops before when rates go higher and at sometime utilities bottom but once again I have recently flipped my dividends to reinvestment as opposed when shares were over $50.
It will most likely get there but I disagree there are way too many analysts bullish now with new targets on the shares. Sometimes this can be a contrarian move and shares are up near $200 in less than 2 months. If there is a serious market correction investors and traders do tend to take profits from stocks that have run a lot I guess time will tell.
Like I have been saying it's time to buy before the weekend for a possible Monday deal then when nothing happens they sell into Wednesday. It's been the same pattern for weeks now.
When oil is close to a near term top and CLR's shares have pulled back from $54 when oil was climbing at the time. Not a bullish trend for me. I said this would hit $45 when it was in the low $50's shares went even lower than that target. I would wait for around $44 or lower to nibble.
It's almost trading like a regular stock today in a tight range so far with no big moves in either direction but that can change quickly we all know that. The CITI call has not really mattered so far and there is nothing but piling on by analysts lately and sometimes that can hurt when too many are too bullish.
Time and sales will stop the bleeding. Sullivan should have said during the 60 Minutes piece that Chinese purchases were done right then and there. He also said during a CNBC interview that he could not wait to buy shares well what better time then now?
This may end up only down a $1-$2 don't be shocked if it does this market tries to hurt the most on one side of a trade. Of course if this guy is in trouble with the Feds then all bets are off.
They said a NLX call is out there but have not said yet what it is but I guess during his mad dash they will say. CRM has consistently grown their revenue numbers and software stocks. It's CITI he says.
There is some call out there that CNBC is about to discuss. That would explain the late day push yesterday insiders knew I see that everywhere now.
Doubt that but it may end up being a good thing. Sullivan spoke about he wanted to start buying shares well this is about as good as time as any to start.
Insiders knew something big was coming. This is all you see now is insiders know days before on so many news stories.
If it's some stupid reason other that related to LL this may be a positive but you have to see how this shakes out today.