Things have been good over the last week, but I am still making up a lot of ground. On HDYN, the next good support level is .13. I have sold 5/6 of my original shares, but would buy back some if it dipped down there.
Here is the deal on the company. They announced on Sept 8th that the only well they were drilling off the coast of Guinea came up empty for hydrocarbons, meaning it had no oil. The stock fell from around $1.40 to .05. Then on Sept 15th, they said after looking at the logs there were some Hydrocarbons in another depth (higher up).
Their lease with the Government runs up at the end of the week. They are trying to convince the Government to extend based on this latest discovery. If the Government says no, goodbye HDYN. If they say yes, we should see a spike. The company has been in business for like 20 years, and has a good relationship with the Government, so I wouldn't count them out. I see this as a 50/50 shot.
That being said, you could make money before the end of the week just on momo and speculation. Good luck!
