RE:Pattern ?cahclick wrote:
I've noticed the last couple weeks that if oil is red at the Open, that ATH opens with a raid (probably shorts trying to pick up a few shares) but then ATH seems to be resilient enough now that after +/- half hour of trading that it bounces back to even and then turns green by the end of the session.
Just sayin . . .
JMO
Yeah, maybe. Or it could be one or two or more "strategic" buyers accumulating 9.99% block before launching a bid. Bets on who launches first bid? Bets on whether first bid is the final/only bid or just the first of several? I bet it's MEG and it's not the only bid. Would I be surprised if it happens this week? No. Management is in the usual quarterly blackout around earnings but I did notice there was no update provided between Dec 31 and quarterly report due March 1. There was an update last year. Silence suggests they are hunkered down either working on or fighting off a bid. The other possible explanation for the silence, like surprisingly poor operational results, seems very very far fetched. Like a great Disney experience. Get your popcorn and buckle in.