posted
HEC - just released earnings.. Stock was in a short-term downtrend, this helped deepen the dip. Looks like it's heading for support at ~0.70 or so. Outstanding shares: 223,558,168. P/E: 4.07
Earnings numbers were decent. Stock in a year-long uptrend. They are engaged in oil and natural gas, production and exploration. HEC is basically composed of two subsidiaries: GEM (domestic) and GED PLC (central america).
Domestic business is mostly natural gas, and hurricane-sensitive, as most of their fields are in Louisiana and southern Texas, as well as the Gulf. Good chunk of their fields is still in the process of being brought back on-line.
GED (traded separately on LSE, HED has 34% of shares) does business in Peru, Colombia and Panama. These are mostly oil interests.
This looks like a decent short-term play: get in when the current downtrend is over, get out before the Gulf gets torn up again.
-------------------- the market is not your mother
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posted
Looks like it's heading to test support at .67 ... we'll see tomorrow. If it bounces anywhere above .65, it would be validating an uptrend, a good time to get in.
-------------------- the market is not your mother
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Heh! Heh! Think I would miss a chance to bash that bozo Bush. Have you looked at his popularity rating this week! He is right in there with Nixon and Carter.
Harken is good for a short term small bounce. I do not mean to discount this one. However, your profit margin will be very tight. Harken simply has too small of a swing and does not swing often enough.
Did not mean to rain on your parade! Might be a little profit potential here. I just think you can make more, faster, on other more volatile bouncers, although very risky!
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