Mexican Senate committees on Sunday debated an energy bill that would open up the world's 10th-biggest oil producer to private investment by allowing new types of contracts, marking the industry's most dramatic overhaul in 75 years.
The bill, announced by centrist ruling party and opposition conservative lawmakers on Saturday, would let private firms partner with ailing state oil firm Pemex (PEMX.UL) via profit-sharing, risk-sharing and service contracts as well as licenses in a bid to boost sagging production.
The reform, which would keep ownership of crude in state hands, is at the center of an economic reform drive that President Enrique Pena Nieto hopes will boost lagging growth in Latin America's No. 2 economy.
This is old news.
Select Biotechnology Portfolio (FBIOX)
1 Year +59.67%
3 Years, each year on average +37.48%
5 Years, each year on average +25.05%
I look for the opposite of the recent past where the stock rose and then closed lower for several consecutive days. I predict buying in the later day with a higher price per share and if this holds true it could bode well for continued near term advancement in a new trend. Next week is the beginning of the traditional Santa Claus Rally season and, 'a rising tide will lift all boats'.
During the past two years, 11/26/2013 to 11/26/11, the stock has closed above $3.00 a share on only six days, with those in 2012 being pre Zohydro FDA Approval.
Nov 26, 2013 ~ 3.10
Oct 25, 2013 ~ 3.04
Oct 08, 2012 ~ 3.08
Oct 05, 2012 ~ 3.10
Oct 04, 2012 ~ 3.05
Oct 03, 2012 ~ 3.14
bigpig, I bought Acadia ACAD at $2 a share. I got up one morning in pre market and it was up 200%+ and, as I brag now with my investment prowess, I thought that Yahoo quotes was messed up. Immediately my broker said the stock which traded that day at $6 is not marginable. I sold at $6 and bought back in at $4. I still hold shares at $20 something, it was $29 and never has been marginable.
Zogenix may never be marginable.
My broker wants 100% for Zogenix, not 50% or 35% and they have been doing this to volatile stocks.
Various things that I have done with attractive advancing stocks on the $3 line.
A few random choices.
1. Go on margin and ignore the maintenance calls if it dips below $3.00 until the end of the day and then sell.
2. Go on margin and ignore the maintenance calls if it dips below $3.00 and wait until the next day and then if the stock doesn't go above $3.00 on that day then sell.
3. Wait for a buffer to 10% higher at $3.30 a share, the buy.
Now there is a new ZGNX Yahoo chart that is topped at $3.05, so now the stock can go higher. See how simple that is?