GREY:LSTMF - Post by User
Post by
PUNJABIon Dec 11, 2014 4:42pm
634 Views
Post# 23221250
Oil broke $60. LTS & PWT got a beating
Oil broke $60. LTS & PWT got a beatingIt was not a bad day for oil stocks even when the oil traded bit lower all day. Most of the oil stocks were in green most of the day. LTS open 2 cents lower & ran up in short time. It created a intraday high of $1.69 morning was started to drift. Looked like that most oil stocks including LTS & PWT may end up closing in green.
Things kind of started to deteriorate in the last two hours of trading when Oil started to slide lot more. But when it broke below $60 panic broke out & most of the oil stocks turned red. Few did close in green.
When Oil broke below $60 & kept on dropping in electronic trading race to get out of oil stocks was on. LTS & PWT came under lot more pressure.
About 10 minutes before the close it seem that stock would close at or above $1.40 because there were lot of bids at that price plus there was bid for 100k shares by Anonymous.
In the last 10 minutes somehow Peters realized that he had to sell too. He dumped over 350k shares in the last ten minutes & took the stock down to $1.35
Remember Peters & Macquare not too long ago took the stock from $3.00 to about $3.94. There is no way of knowing if these shares sold today came from the same account.