RE: Whats up? Nice action, up until late this afternoon any buying offers were swooped up at $1.00, after this resistance was removed or filled, the buying offers started to move the price up, which probably attracted momentum buying.
The next two days will be interesting, will traders take a position in advance of the earnings release, or will they continue to sell it down. I put my estimate of results out earlier this week, pretty much in line with the analysts. Not much room for surprise.
Upside likely to come from Water-flood developments and reserve update.
Take a look at Torc Oil, declined into their earnings report then popped on reserve increases, up 22% and still improving.
Terr