ERHC Energy Inc (ERHE)

[nordicroots]

Don't forget its summer and a lot of traders are out on holidays. And on top of that we have all the multiple perceived crisis' unraveling simultaneously with Greece, Puerto Rico and China. As a result, just about the entire market is sort of soft right now. Is it any wonder that you are not seeing flocks of buyers here or anywhere else for that matter?

IMO what is more important at this juncture is that there really are not a lot of sellers of ERHC stock.

When markets are experiencing periods of distress or uncertainty professional money managers often simply hit the eject button and bail out. They dump now and ask questions later. And in many instances they end up jumping out of stocks where there is some value left that they can liquidate to raise capital so they can come back and live to fight the battle another day. The guys that are down 90% plus at this point may not be so anxious to liquidate this stock in particular and might just be content to wait and see what happens. But on the other hand, they might be inclined to sell their Exxon or Chevron holdings to raise cash (coincidentally both tickers seem to be down some 9% over the last month) and be prepared to jump back in once the dust settles and the coast looks clear again.