re: Official Erin Energy (ERN) thread

Changed in a hurry. Profit takers gotta take profit. Scalpers getting scared.

Power hour today all profit taking? If we close with a gain today I'd see that as a positive money flow technical.

Did you guys see the trigger for the HFT kick in there. Wow.

I'm so jealous of everyone that has their hand in this

How high do you see it going? I know nothing about this company. What caused that crash from ~50 all the way down back in 2008? Just way over-valued at the IPO?

51 June 19 $7.50 calls went today and closed at .48. OI should be over 300 contracts after Tuesday as I'd assume tomorrow will be lightly traded.

So for a retail guy that went in at .48, assuming $5.99 + .50 a contract and an exercise fee of $15 per side, he needs to get to $8.26 before breaking even in 20 trading day, at least one lightly traded day and settlement day on Saturday. 10% in 19 days. Not impossible. But I point out break even on exercise to give an indication of sentiment. Likely no exercise, and they want to unload to take the increased value of the contract and close out.

Compare to one June $7.50 put moving at .50 and 2 OI. That guy paid $56.49 to sell 100 shares at 7.50. He needs ERN well below $6.90. He's got a chance as well.

9 August $7.50's @ $1.05, and OI right about 105. OI on the put side is 4, all at $2.5 and $5.00.

November is getting a lot of attention. By my count OI of 900 contracts all at $7.50 and $10.00. There are stock a lot more well known, with a lot more volume that have no where near 900 OI of anything. Today's $7.50/$10.00 close was $1.00 and .55.

About 4.48MM pre split adjusted shares were exchanged today.

It is to me really incredible to me, as the buyers are patient and hidden, and there is selling pressure every day, that the price ended up where it was at today.

Someone bigger than us is acquiring shares. If you look at L2, you can see sellers lined up all day long, and buyers are there, but hidden as a lot will move outside of the inside b/a spread.

I hate the fact, and think it is hugely unfair, that I can't access L3 very easily. I mostly can't unless I get on IEX. Even then, it is glorified L2.

Anyway, not that I pay much attention to this stock or anything along those lines.

All right boys. I'm head to LG tomorrow. You'll need to update me if an oil well explodes, there is an environmental disaster impacting the Afrikas, Kase gets indicted, or any other minor incidents such as these. Laffy.

Hoping this gets to $10 soon so my sell order hits

So that's your order hangin out there at $10. You owe me dude if that all of your shares.

Looks like we did o.k. 4PM getting on the boat for small mouth, northern pike, muskie and walleye.

I know you've read the penny stock thread. 75% of the posts in that son of a bitch are about this stock.

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Anybody thinking it makes it to $10?

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Hope so. I want to make my sale and wash my hands

ERN is the stock formally known as CAK