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ATPG
Posted: Wed May 19, 2010 7:58 pm
by patrick
This has been dropping like a piano from a 10 story window. Production is scheduled to increase significantly ... is anyone buying at this distressed price or, waiting for it to go lower?
This is like being in a casino...place your bets!!!!!!!!!
Re: ATPG
Posted: Wed May 19, 2010 8:35 pm
by dan_s
Patrick;
Timing a market like this is tough.
Oil's late day reversal is very encouraging to me. Let's see if it holds tomorrow. If $70/bbl holds that should be quite encouraging to the energy sector investors. They like to know where the floor is.
As I posted earlier, the Fed's moritorium on offshore drilling is only for new wells. I don't believe it will have any effect on ATPG's efforts to get wells tied into the Telemark Hub.
If you can pick the bottom on this one you could harvest a nice gain. ATPG has a very large short position so the shorts covering could fuel a significant move.
Dan