RE: o/t: ENG
Yeah - I'm not sure on that rule. It would be determined that this NR was MATERIAL and should have either come out after trading yesterday to allow the market overnight to read and digest the news. Otherwise, if you need to get the news out, you should have requested a HALT first, put out the news, allow a period of time for people driving in their cars to work and such a chance to read it, and think about it... etc. etc....
I think this should have been halted for this news. Same thing happened to me in TIM - I was right on the alert when they announce big contract. Bought a sh*itload within 2 minutes... 20 minutes later stock was halted and trades reversed all the way back to 2 minutes after my trade - phew - because people paid much more the next day when they resumed trading.
Sure hope you didn't get hit too hard this morning. Still could be an upside - call it dead cat bounce or whatever - they have interest in the Lotshi Block...
I don't understand how News Wire wouldn't spot this and advise the customer that they may need to halt the stock based on proximity to opening bell.... oh well... continued incompetence in the regulators gives me the willies.
BUK, CXZ, ONR, SOR are some great junior or small cap plays that I think have promise over next few weeks to months. Holding BUK Long small position. Will probably build on commodity bounce back...
Took a nice loss on ENG. Just didn't get smacked this morning. Would have been insult to injury.. had to start sleeping again and ENG wasn't letting me sleep... BUK is...