Small float oil services company. First cold snap of the season on Monday. Oil is traded on the NYMEX in NYC by humans. These same humans are going to be stepping out to FREEZING weather on Monday and they will trade oil even higher then it is now. Snowstorms in Chicago as I type this. http://wwwa.accuweather.com/forecast.asp... 1 million shares short and only 2-3 million in shares available on the open market. Some probably has been covered, however, oil price shooting up will make investors flock to the stock. Even a small token interest in the stock will shoot it north. I figure $21 is the next price point. Share Statistics Average Volume (3 month)3: 541,114 Average Volume (10 day)3: 823,488 Shares Outstanding: 32.40M Float: 28.35M % Held by Insiders4: 1.82% % Held by Institutions4: 92.00% Shares Short (as of 10-Nov-06)3: 1.03M Short Ratio (as of 10-Nov-06)3: 2.5 Short % of Float (as of 10-Nov-06)3: 3.20% Shares Short (prior month)3: 248.52K
I with you on oil, and I also own some HOFF. Also long USO, PCZ, CNQ, and bought some SU today on the dip. we'll see how it plays out.
I hope it works better than your PNTR to $100 call: http://www.elitetrader.com/vb/showthread.php?s=&threadid=81301&perpage=6&pagenumber=3 You should really stick to the Yahoo! boards.
When it went from the OTC to the Nasdaq, they did a 1 for 25 reverse split. Horizon Offshore Announces 1-For-25 Reverse Stock Split Date: 3/22/2006 Press Release Source: Horizon Offshore, Inc. HOUSTON March 22, 2006 -- Horizon Offshore, Inc. (Other OTC: HOFF.OB) announced today that it plans to effect a one-for-twenty-five (1:25) reverse stock split following the close of business on April 12, 2006. The reverse stock split, which was authorized by the Companyâs board of directors and approved by written consent by the holders of approximately 72.1% of its outstanding common stock, is expected to begin trading on a split-adjusted basis on April 13, 2006 on the Over The Counter Bulletin Board. In conjunction with the reverse stock split, the Companyâs board of directors and holders of approximately 72.1% of its outstanding common stock also approved the reduction in the number of authorized shares of the Companyâs common stock from 1.5 billion to 100 million. In the reverse split, each 25 shares of issued and outstanding common stock will be converted automatically into one share of common stock. The number of outstanding shares of common stock will be reduced from approximately 759.6 million as of March 21, 2006 to approximately 30.4 million shares outstanding post split. Stockholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange of their shares. Stockholders of record as of April 12, 2006 who hold share certificates will receive instructions from the Companyâs transfer agent explaining the process for obtaining new post-split stock certificates. Mellon Investor Services LLC will act as the exchange agent for purposes of implementing the exchange of stock certificates. Further details of the Companyâs reverse stock split are discussed in the Companyâs definitive information statement filed with the Securities and Exchange Commission on March 21, 2006. The SEC maintains an Internet site that contains reports, proxy and information statements and other information regarding the Company at http://www.sec.gov. Horizon and its subsidiaries provide marine construction services for the offshore oil and gas and other energy related industries. The Company's fleet is used to perform a wide range of marine construction activities, including installation and repair of marine pipelines to transport oil and gas and other sub sea production systems, and the installation and abandonment of production platforms. This press release contains certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995, which involve known and unknown risk, uncertainties and other factors. Among the factors that could cause actual results to differ materially are: the Company's substantial amount of debt, high reliance on sufficient cash flow from operations and external sources of financing to meet its debt obligations and capital requirements; resolution of the Company's outstanding claims against Pemex; outcome of litigation with the underwriters of the insurance coverage on the Gulf Horizon; industry conditions and volatility; prices of oil and gas; the Company's ability to obtain and the timing of new projects; changes in competitive factors; and other material factors that are described from time to time in the Company's filings with the Securities and Exchange Commission. Actual events, circumstances, effects and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the forward-looking statements often identified with words like âshouldâ, âexpectsâ, âbelievesâ, âanticipatesâ, âmayâ, âcouldâ, etc., contained herein should not be regarded as representations by Horizon or any other person that the projected outcomes can or will be achieved. Contact: Ronald D. Mogel (713) 243-2753 Horizon Offshore, Inc.
You have to have patience my friend. The public float on that stock is 500,000 shares. Does a company suddenly have one quarter of good profits and then thats it? You know if they report one surprising quarter, then the next quarter has about an 80% chance of being strong as well. When that next quarter conference call does come, then its going to have a strong pop. My HOFF call is working very well and if you had gotten in when I said, then you would be enjoying the profit along with me. Is $20,000 in a few days enough profit for you or do you need more?
eagle, I have patience. You are a pumper. You posted that PNTR was going to $100 in the next two days in November. Don't re-write history. You are someone who should be posting on the Yahoo! boards.
Sir, You either have not been in the business very long or your a big fool. You cant expect someone to be right 100% of the time, its just not going happen. There is no industry where everyone is 100% right. Im not afraid to give my opinion on an issue and if you believe that my opinion is going to be right 100% of the time, I have some condos in DC that I would like to unload on you now. Dont be so naive. When you read a person's opinion, its not the word of god. Lets take for example these analysts opinion on Mastercard back in July: 12-Jul-06 Deutsche Securities Initiated Hold 11-Jul-06 Goldman Sachs Initiated Neutral 6-Jul-06 Stifel Nicolaus Initiated Sell Are you going to walk into Goldman Sachs and call them fools? They looked at the data available to them and issued an opinion on the issue. You cant put an analyst or any person down for issuing an opinion. Its up to you buy or sell. Where are your opinions on the issue or are you too much of a coward to post them because your afraid that you will be wrong? Im a man and can take it when Im wrong. Its a little boy that sits there and is silent all the time afraid to give an opinion.
It is not a surprise that it gets cold in December. Oil and nat gas tanked yesterday. Supplies are high and the weather is supposed to be warmer next week (e.g. it'll be 5 degrees above normal in NYC).