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Could someone post the news please - I don't seem to be able to locate it.
Thanks.
Looking good DANEiphant!!!
That's the difference with true traders Strass: They don't care about Monday and ERHE. If they are out - they are ready to move on. They simply don't care about what happens with ERHE on Monday. They will find something else that fits their trading criteria.
They may come back $.25 up the road when conditions meet their criteria. They don't care.
EDIT: I don't think many traders have seen signals telling them to get out of this though.
$.50 is one of those mental obstacles I think.
Look at the wall built at $.51. Is it real, or is it mirrors? Looks like we would need volume to get through it.
Question of the day in my mind: Are MMs selling these shares or are they letting the market do it for them?
My answer: The market is doing it, not them. Too smoothe of a run, and no volume run to create selling for recapture of shares shorted by MMs. At least not yet.
Looks like there would be no reason for a collapse if my guess is right.
Here's a guess: If indeed there is an entity of some kind accumulating, I would think that entity would sit relatively calm for the remainder of the day, and catch the falling shares rather than push us up. We may find that there are more shares traded at the BID than ASK, and larger blocks at that. Fridays tend to be dump day for traders. Accumulators know that.
A scramble at the end of day may show a volume increase without much of a price change as the market nears a close.
Just a thought.
What do you make of the different MMs doing the push up instead of ETRD and NITE? We have seen quite a bunch of different MMs doing the moving here, and NITE not being the typical lead (NITE usually is considered the top retail MM, thus the reason it frequently sits on top of the ASK, much to the dislike of many here!).
Another thing - block size has been small. VERY few blocks over 20,000 shares for a move this large. Again, an appearance of retail, but too long and steady of a move.
Anyone?
I thought initially that the surge was related to the upcoming SH meeting, mixed with some new boards being drawn to us. For one, Manti has been chatting with a group well known to infuse some movement into a stock. The longer this continues its soft run up the ladder, the more I tend to go away from the retail investor driving the move.
One thing missing so far is heavy volume and heavy volume move. I know, we are at a greater volume than we had been for quite a while, but this is apparently a rather controlled move up. No sudden volume move - all nice and easy, steady. Overbought here, but not trying to turn around.
Where's the spike move up on volume? We've doubled and not even come close to that move yet.
Interesting to watch. It almost doesn't feel like retail any more. More like an accumulation effort.
My opinion.
I think that is by far the most likely scenario out there. I lean heavily in favor of this.
The Nigerian government has access to plenty of money and can put themselves in a position to no longer be pushed around (EDIT: re oil production limits) by OPEC or any other entity.
The problem I see with such a scenario is the security issue. The government simply can't secure itself from a hostile move on the oil - at this point in time.
I guess they could become our 51st state after we invade them.
Wasn't DRSTP basically looking to do the same thing originally - when ERHC became involved?
LOL!! Since when does accuracy count for anything in predictions or posts? Remember the UNDER-PROMISE and OVER-DELIVER saying always applies here!!
I'm always fair - except for when I'm not!
Have a great weekend on that side of the earth.... which begs the question: how long does an African weekend really last?!!
When can we expect the 8-K??
Wow. what a letdown. After being promised $6 by end of January..............
Hmm. Didn't Redinvest always say $3.67??
Maybe you could be referred to as redinvestiphant!!!
Up is good.
Nothing wrong with buy and hold. Nothing wrong with flipping. We are all different people and should probably have different views of proper invesment strategy. It's what makes the market a market. Some will see $.46 as a great entry point for ERHE. Others as a great selling point. It doesn't make them right or wrong, just buyers and sellers!!! Hopefully we can get more people who keep thinking a price higher than today is still a great entry point for their strategy, and regardless of how many flippers we have, buyers will take us up. Perceived value is the key!!
I think there are some pretty smart cookies on this board, you included. The naive people are ones that believe everything written here or on any other board about people and their 'sources'. People can easily misrepresent themselves on a message board. It's my feeling that all posts (less so if you PERSONALLY know the poster) should be taken with a grain of salt. Naturally, mine included!!!
Now for the $.50s........
I'd bet the number of longs who flip here is far greater than the number that don't.
And thinking those that claim they don't - actually don't - is, well, probably being naive.
One of the easiest things to do on a message board is to post something other than the truth.
But the greater question: Why is flipping such a sin??!!!!! Closed-minded folks, I guess.
A stock is valued based on factors other than how many people are flipping it. Flippers only affect a price for a moment, and that works in both directions for the stock price.
Cool.
Up is good.
I've spent a lot of time reading some old posts from RB about different things that took place with ERHC. Initially, I was going to pull the post from about 4 or 5 years ago where I wrote about my belief that Chrome (EO) would eventually buy out ERHC and take it to the NYSE, but without a search option it seems pretty hopeless!! My point was to prove that the concept of Chrome buying us wasn't an original thought by the board's prophet, but it really doesn't matter anyway. Maybe the prophet and I are the same person......
Anyway, I came upon a lot of posts from the at-that-time prophet Barry Morgan. You remember Barry? Mr. Fortnight? Awards in a fortnight? Started it around June and we got awards the next spring!!!!!!! Mr. Accuracy in predictions. At that time, a considerable amount of posts were quoting him and twisting the words as necessary, very similarly to what has been done with the current prophet's babblings.
But the funniest part about all those former posts is to see who the quoting poster was!!!!
The more things change - the more they remain the same.
So where do we go from here? Up? Down? Sit still? I wait for the prophet to speak!!! And then I expect the opposite.
Too many sips of the weekend Kool-Aid.
That'll teach him!!
Sorry. I don't read that trash.
He has less credibility in my eyes than the board prophet, who has yet to prove he knows anything about anything to me (not that he needs to prove anything to me!!).
I really can't understand why anyone would voluntarily go read the scribblings of a person who - without any doubt whatsoever - has REPEATEDLY LIED to us and tried to manipulate us to fit his trading needs.
I continue to be amazed by those of you who support his blog.
EDIT: I'll just assume he wrote a column today announcing the merger/acquisition of our company. It can't be any dumber than the one he wrote announcing the signings - THE DAY THEY DIDN'T HAPPEN.
I was wondering when you would show up!!!
Hey, I've been fine for quite a while. Like most, I was buying in the $.20s and low $.30s on the way down. I'm WAY heavy here. I had funded my (and wife) Roths recently and put those buy orders in at $.20, but they didn't get touched. I had planned to sell from my cash account the shares I was purchasing for the Roths because I have some serious 2007 profits that I could put a small dent into with selling higher cost (bought in $.60s) cash account shares. Looks like those $.20s are not gonna get hit - and at this point I sincerely hope not!!! (Nick, please change your low price hopes to $.1995 for me - thanks!) So I am not flipping or selling anything at this point, at least until the sell indicator light safely goes on.
Would love to see more volume though.
And Tryoty - you may be accurate about who is buying here. This volume feels more like retail than smart money. I sure don't see $.50 today as predicted though, not without some serious news.
Enjoying the run. Green is good, especially when I have multiple accounts.
Yeah. Nice move for the past week, but the volume certainly hasn't been strong. We used to get 2 mil shares traded per day when nothing was going on.
Happy with the price change - for sure!!! But we shouldn't confuse this as being a large volume move. Times have changed for us, and maybe the larger volume will translate into a larger move when it arrives.
Meanwhile, how many are looking over their shoulders wondering when the traditional bad news arrives?? Seems we almost always got something negative in the press when we would move up. Hopefully this time will be different, in more ways than one.
LOL
Yeah, the monkey is making a donkey of himself today. We've probably all been there at one time or another though.
What's that saying about opening your mouth and removing all doubt???!!!!!
So misunderstood!!!
Looks like you have a following today. Congratulations - I think!
LOL!!!
Sure. Count on an answer that can be understood!!!
Next thing you will want is accuracy!!
It's all good. To duh moon. Rich by Easter!
No doubt it would help the shareholders Doug, unless the shares were sold from the treasury and we became forced to take on the dillutive effect of the exchange. In that case, the company would have cash (which we would hope would be used to grow our company), we would have considerably more share outstanding and yes, probably a higher share price, but I doubt it would hold at the $2 or whatever the buying price was. We still need assets (tangible as in oil, not intangible as in rights) to validate the price. Otherwise, it is all speculation, and we are already in that mode!!
Again, the company would need a MAJOR reason to sell that much stock. Oilphant indicated it happened some 15 months ago (buyin for cash to purchase producing wells, probably orchestrated by our new US CEO), but as yet I haven't seen the 8-Ks or other filings.
I highly doubt Offor would sell shares to simply bump the share price for you and me, even though it would be a good thing for us!!
Looks like we are on the same page here.
A private sale does nothing for the company.
I can understand all your reasoning there. I think your price is at the high end (in my opinion). I just don't think it is likely in your scenario.
Here's my problems with a buyin. Why would Offor want to give up shares? The price takes care of itself with oil being found, so that doesn't fit his need, unless he needs immediate cash. The government making him do it? Why? Sounds like he would have a legal battle he would rather fight.
Preconception and fears? I think those are irrelevant once oil flows, unless the alphabet gang creates trouble.
I just don't see how our COMPANY benefits from a buyin. To get any cash out of the deal the company would need to issue stock. I HATE that idea, since we have shown no apparent signs of company growth/development.
For that matter, I don't see a company going to their BOD and saying - Hey, we should invest $200,000,000 in ERHE, getting 100,000,000 shares in a company that could be sitting on the mother load of oil. Oh, by the way, the shares currently go 3 for a dollar. I seriously doubt any CEO wants to have that conversation with their BODs. Sure, they may be able to obtain a BOD seat with ERHE for the purchase. So!! What else do they actually gain immediately besides a lot of risk?
I still think it comes down to the oil. I don't see anyone touching us for a reasonable (totally objective number, mine around your $2 per share) price until they get some confirmation that the oil is really there. Not conjecture from a message board, but an actual well in OUR BLOCK indicating what is under the ground.
My opinion.
Thanks for answering. Best of luck to you and the rest of us.
Doug
Can you explain how a buyin would help ERHE, other than a possible bump in share price for the shareholders? Do you expect the buyer to purchase shares already on the market (like EO's) or from our treasury?
Thanks.
I respectfully disagree with your thoughts that flippers won't get back in if news makes this take off.
It has been my experience as a flipper and hanging with groups of flippers that you would be wrong - dead wrong.
Flippers - at least most of the ones I know - care less about the price of a stock and more about the opportunity to make money within a timeframe they feel is comfortable to hold for them. In other words, if they see ERHE run to $.75 or $2 or $10 and see a time where it settles back and offers an entry point with an exit in their comfort zone - they will get in. In fact, the more one flips a particular stock, the easier that stock is to read (understand what moves it) and flip.
Remember - flippers don't care about fundamentals, only opportunities to see the stock move in their direction.
Good stocks for flipping don't go in just one direction. So, most any stock is a good stock for flipping, if you can get the volume to allow easy entry and exit, because no stock - even this one with the correct news - goes straight up.
That's my opinion, and has been my experience. Yours may be considerably different.
I have no problem giving it time. None at all. Been doing that for years and will do it as long as necessary.
I'm ready for a celebration too. However, I think celebrating $.28 is - uh - a bit overdoing it.
I don't consider $.28 a victory of any kind.
Is that really what we've been reduced to with this stock?!!!
Oh my.
Yeah. That's back in the days when respected posters were trying to convince us that Pioneer was drilling in our block already!!!
The crud we've had posted here in dreamland!!
I'm not sure why you guys are jumping to the conclusion that there is a shareholder issue that will be up for vote. That language in the filing was not that extraordinary. I've seen it many times - it is just another disclaimer.
Relax people.
If Oilphant had said, "Shareholder offering issue for vote", or some other sentence that once sent through a translator would mean something similar, the board would be ecstatic right now, pouring out all of the theories of how we will be at $1,375 per share after the meeting.
But because the company put out a disclaimer we have to expect the worst???
It seems to me that if indeed there were to be any issues put to vote by a shareholder that the issue would be more in line with our (the shareholders here) hopes and expectations for the company, not something sinister and destructive. That has been my experience with this type of scenario - a shareholder puts up an issue near and dear to them personally, the group laughs, and then everyone moves on.
Why are we creating a conspiracy issue out of this?
LOL!
Considering he is the most highly respected poster on this board (and perhaps all of iHub), we need to pay very close attention to each of his posts.
Eventually one of them MAY be accurate.
Meanwhile, back on the farm, there still isn't any real volume associated with our stock. It seems that we are not being restrained from drifting up or down at this point anyway, in my opinion.
Will we see another surge on light volume today?
Didn't oilphant promise a reverse split a while back?
The last major corporation I worked for held its annual SH meeting at the corporate offices. We all would get to stand in the back and listen to our CEO yak, and then the room would get opened for questions. There were two microphones on opposite sides of the room, a line of people behind each kept in check by security personnel. A question would come from alternating locations, and if the CEO didn't like the question, he simply turned to the other microphone and asked for the next question. He answered about half the questions.
Oh, we did have a couple of shareholders get things put on the agenda for vote, and they were always defeated resoundingly. The presenter of the item up for vote got a moment to plead his/her case, and that was about it.
I seriously doubt there is anything coming from our SH meeting. I just don't see it happening. It will be interesting to watch the stock react to the meeting though, especially if nothing comes of it.
Was Bear Stearns owned by Nigerians??!!
OUCH. I hope my mutual funds didn't own many of those shares.
EDIT: It will be interesting to hear how much the CEO of Bear Sterns gets. Probably a couple billion.
It's the huge rush to get in before the Chinese or Addax takeover announcement. Should happen in January. Waiting on the 8-K, myself.
Apparently, so are others.
It's tough dodging all of this trading traffic.
Pay no attention to that $.20 stock quote currently for ERHE.
We all know we are gonna be at $6 in January.
Should be any day now. Someone got a calendar?
And just how long would you expect the JMC and the countries of DRSTP and Nigeria to allow Addax to play games with their valuable resources???
Must we always forget who OWNS the land and the oil?
Interesting move on your part. Congratulations.
The situation begs for the question (though I am NOT asking it): Why would well respected posters quote and give such high regard to a poster that has a track record obviously so horrible?
Another question comes to mind, a point raised by Homeport a short while back. Refer to the Addax iHub board, posts 171 and 172. I sure wish that process was followed here too!!
But I am not complaining, just thinking out loud.
All in MHO.
Did we ever receive news after the bell last night? I haven't been able to find it.
Help please. Thanks.
I'm hoping this wasn't another joke played on the board.
Considering the amount of credence put into his babblings by well respected posters here....... I'll just believe your comment was rhetorical!