GREY:ENGFF - Post by User
Post by
DoubleManon May 28, 2008 11:39pm
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Post# 15121261
ENG News....my take
ENG News....my take1. Anonymous sold over 200,000 shares today....the last 10 day trade average was 351,000...today's volume was 522, 000 or roughly just under 50% increase..this tells me that the news was leaked out...did someone say "tight hole"....hmmmm
2. Very shortly there will be over 8 1/2 million shares available for release at $1,25...I canot see much of an SP collapse since the profit margin on these shares would be minimal and not justify selling at this time.
3. The good news is the driling momemtum is continuing....this is not a "dry" hole....
4. You can count on it...the shorts will be lined up tomorrow to drop the SP....since daily volumes are just a few hundred thousand..their efforts will probably be rewarded..I expect volatility tomorrow and probably the SP down around $1.50 to 1.60..any further drop would certainly render the shares and warrants as a poor play..
It should be interesting tomorrow....I am down over 60% from my average in ....the SP at today's close will have to rise well over 100% for me just to break even....no sense selling now....so it's into the drawer and out with the suntan lotion...and enjoy the summer and read some most interesting posts on this board.