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Oil bouncing a little off of the low of $29.96! API report comes out later today. It is expected to show a 2.5 Mboe increase. The refines are expected to be up as well. The government report will come out tomorrow at 10:30am.
Oil is heading to $29. I don't believe there will be any bounce this week. When it breaks $29 it could easily go to $24's.
KBIO brings in Dean Witter III to act as company's interim CFO. Bringing in the big guns to take over the restructuring, and or, dismantling of the company.
Check out the new form 4's that were filed. Insiders are buying! This is somewhat encouraging.
Very possible. Speculators could run it up relying on a significant draw down on oil reserves. Wednesday is when the cards will be shown.
It went to .936 pretty quickly before bouncing back to the .96-.97 area. If the inventory data released on Wednesday shows any increase at all and if China keeps free falling, GST could hit .80 or .75 pretty easily. I like it in the .80's.
Personally, I'm looking at $28. If inventory data doesn't show a draw down and China keeps tanking, we will see $28 this week.
Will be curious to see how oil does prior to the weekly inventory data. $31 held up today after being slammed into. I thought it would go all the way to $29 or the low $30's.
GST put in a new 52 week low today. Could be getting close to an entry.
At their current cash burn rate, I can only see a BK in their future. I haven't sold any shares yet and am sitting on a huge loss only because I was thinking as you are. I figured once my loss was where it is, I was going to ride this pos to the bottom and save it for a nice tax break. I would love nothing more for this to reverse, but I just don't see it happening. Being wrong would be a nice thing. GLTU
Sure seems as if this is being held down for a reason. There were more than twice as many buys as there were sells today and could only manage a .0248 cent gain or 3.87% at .6659. I say .0248 but looking at the daily one minute chart in Schwab it shows a close of .688 and Ihub shows the same .688 close going into after market. I checked the tape in Schwab and it shows no trades after market and looking at the trades using the trade tools in Ihub, it shows no trades after market at .688. Kinda strange but then again, not really. One thing is certain... there were more than twice as many buys as there were sells. Would've expected more of an upward movement.
Looks like $30.00 a barrel is on deck.
Was hoping for a small rally into the close but it appears that the bid at .64 is going to be taken out. Not holding up very well today, -10% when compared to ARP, -1% and VNR, +1%.
GALE. On watch for possible pincher play.
They've got a lot longer than two weeks. After receiving the letter from NASDAQ, they will fill for an extension, 6 months, and get it. This process can drag out for almost a year.
I got to admit, I impressed with the way this is holding up. Crude hit a 52 week low today and the pps hung in there. Nice bid support came in at .71. Given the recent trend, it looks like 30 dollars a barrel could be seen. The way the pps has been responding .60 to .65 could be a good bottom. Any comments?????
Not a bad close considering the drop in crude today. According to Ihub there was well over 200,000 more sells than buys. Volume was light which probably helped hold up the pps. Ihub shows some T-trades after the close at .70, but they don't show up on my Schwab feed. I think that the crude inventories data will show a drop, probably not by much, but this should rally crude a bit.
No need for any math because the figures are right in front of you. The shares on the form 4 are either acquired or disposed (A or D). Just look at box 4 (Securities acquired or disposed). It clearly shows the acquired shares and their prices as well as the disposed shares and their prices. The acquired shares show 0 as their price because they were RPU's or CPU's as compensation (they were converted into common units). The disposed shares show a sale price of .7116 a share. Column 5 (Securities beneficially owned after transaction)shows the number of shares owned following each transaction. It is added or subtracted depending on whether the shares were acquired (add) or disposed (subtracted). Looking at box 5 it clearly shows, in the Mr. Washburn form 4 which is the second one down on the list I provided, that the 169,543 shares were subtracted from the total number of shares beneficially owned by Mr. Washburn. Why is that? It's because he disposed of them (sold). Again, I'm not an accountant nor an expert on SEC filings, but I can read. Unless I'm totally misunderstanding the difference between acquired and disposed, the numbers speak for themselves. No math needed. The form 4 does it for you.
URG has also been hanging tough.
Just look at the form 4's that were filed on 12/30/15. Here are the links. This is not all, but most of them. Check out the D's. Especially the second one.
http://www.sec.gov/Archives/edgar/data/1357371/000135737115000236/xslF345X03/wf-form4_145152143557000.xml
http://www.sec.gov/Archives/edgar/data/1347806/000135737115000237/xslF345X03/wf-form4_145152144887209.xml
http://www.sec.gov/Archives/edgar/data/1262839/000135737115000238/xslF345X03/wf-form4_145152146309734.xml
http://www.sec.gov/Archives/edgar/data/1357371/000135737115000239/xslF345X03/wf-form4_145152147547178.xml
http://www.sec.gov/Archives/edgar/data/1357371/000135737115000240/xslF345X03/wf-form4_145152148984505.xml
http://www.sec.gov/Archives/edgar/data/1357371/000135737115000241/xslF345X03/wf-form4_145152150265488.xml
http://www.sec.gov/Archives/edgar/data/1357371/000135737115000242/xslF345X03/wf-form4_145152151949737.xml
IMO it doesn't look good. Upper management and directors are getting a boat load of "free" common units in place of their RPU's and CPU's. During the last month insiders purchased, not given, 75,000 common units. In that same time, these same insiders sold, dumped, 376,000 common units at .71. The 75,000 CU's were purchased mostly in the low .50's. Of those 376,000 CU's sold, 170,000 were sold by the CEO, which by the way, purchased 25,000 CU's at .51. Made a nice little profit off those 25,000 he bought. Made even more off the free 145,000 CU's he dumped.
Nice close today.
If so, it only spooked BBEP. No other oil company, or MLP for that matter, that I track did what BBEP did at the close yesterday. When you see 240,000 shares blocks go off below the bid it is either the company or hedges doing it, not retail. This traded just like a stinky pinky.
Come on people. Does anyone think that was retail dumping at the close. Right at half a million shares dumped in the last ten minutes. This stinks to high heaven.
WOW! What a dumpathon into the close. So much for a strong close. Just pathetic.
Insiders have been dumping like crazy during the last month.
I agree. I've just been loosing more than I'm winning. lol
Yes, unfortunately it wont be here. lol
Alright, finally moving a bit. Hoping for a better 2016 and positive developments from the company.
Thank you and a Happy New Year to you as well. Hope 2016 brings lots of happy trades.
Well enjoy it for today. Next year it will be gone.
Could be just a fat finger trade. That's what it looks like.
They both look red to me.
Oil is moving up but watch the bid at .635 get taken out. Just like clock work.!
That was even faster than I thought. I had more than enough time to edit this.
But really...what does anyone think can happen at this point that could be spun as a positive? I've tried, and failed, to come up with anything, fictional or not, as to how this could work out to the benefit of existing shareholders.
Double bummer!
I think so too. That's why I didn't jump in it. Had I been watching when the news came out at 8:30am I would have jumped in with both feet.
LEI...335% now. Still can't beleive I missed this one. Was looking at it around 8am and didn't get back to it until what I thought was to late.
LEI is a beast!!! Unbelievable!
Other MLP's are green and BBEP is red. Come on BBEP, get your head out of your ass. Would be nice to hear something from the company. Share price is tanking and not a peep. How's the debt repayment going with the money that used to be the divy??? Anything positive would help...