Prices climb above $59 a barrel before EIA data, helped by anticipated output cut by OPEC. December 28, 2005: 11:42 AM EST
NEW YORK (Reuters) - Oil futures on the New York Mercantile Exchange rose more than $1.00 to $59.25 Wednesday as industry analysts forecast that U.S. crude supplies dropped last week.
"Dealers are looking at some of these preliminary forecasts for a draw in crude ahead of the EIAs," said a floor trader.
The federal Energy Information Administration will release oil supply data for the week ending Dec. 23 on Thursday, a day late after the NYMEX was closed on Monday for a holiday.
U.S. prices have fallen almost $4 since mid-December as warmer than usual U.S. weather curtailed heating fuel demand. Some analysts said the drop had now priced in the impact of the more mild temperatures, a week since winter officially began.
"At the start of the winter, they talked about a colder than expected winter; now they're talking about a warmer than expected one," said Sam Tilley, head of research at UK broker Sucden.
"We're not out of the woods with the weather yet."
Prices are up 33 percent since January and have averaged $56.66 a barrel, almost 37 percent more than the 2004 average. Analysts forecast a price of $57.34 for 2006.
Temperatures across most of the United States have been unseasonably high for the past week and are expected to remain so through the weekend, forecasters say.
The Northeast region, the world's biggest heating oil market, will be 6-10 degrees Fahrenheit warmer than usual until Sunday, Meteorlogix said in a forecast Wednesday.
Heating oil demand in the Northeast is expected to be about a quarter less than usual this week, the National Weather Service said.
The Midwest, which uses mainly natural gas for heating, will also be warmer than usual for the next week to 10 days, undermining high-flying natural gas prices.
Natural gas futures, which soared to record highs near $16 per million British thermal units (mmBtu) in mid-December, have since fallen by about a third as a cold snap passes. The front-month contract was trading down 1.6 percent at $10.850 per mmBtu on Wednesday.
U.S. oil stocks With warmer weather factored in, dealers will next be looking to weekly U.S. oil inventory data for direction. The U.S. government report will be released on Thursday instead of Wednesday due to the Christmas holiday.
U.S. distillate inventories were likely to have been unchanged last week after milder weather reduced consumption, a preliminary Reuters poll of six analysts found.
Crude stocks were expected to have slipped 1.2 million barrels while gasoline inventories dipped 300,000 barrels.
Winter heating fuel stocks in Japan, the world's third-largest consumer, fell again last week as frigid weather enveloped most of the country. Kerosene inventories fell more than 8 percent to about 23.5 million barrels, industry data showed.
Kerosene stocks have fallen by a fifth over the past three weeks but remain well above the end-December average after a warm start to the season helped build a hefty stock buffer.
While crude supply concerns eased this week after Royal Dutch Shell said it had managed to restore most of its production in Nigeria after pipeline attacks a week ago, OPEC looks set to trim output when it meets next month.
Iran viewed a one million barrel per day cut by OPEC a "good figure" when the cartel meets on Jan 31, the country's oil minister said in a newspaper interview on Wednesday.
American Bull reads buy confirmed white candle stick formed yesturday
PBLS
PHOENIX ASSOCIATES LAND SYNDICATE Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation that was confirmed was made on 12.08.2005 (21) days ago, when the stock price was 0.0232. Since then PBLS has fallen -21.55% .
Were you eager to go long? Well, without doubt, it was the right time to do so. The BUY signal was finally confirmed, and most probably you have called your broker and placed your long orders with no hesitation.
Don't worry if you have missed this buying opportunity. The market may now give you a second chance. You may still find good prices for buying in the next session.
[MOTTO OF THE DAY] Buying was right in a nice bullish day Hold your stocks now whatever they say
Today a Long White Candlestick was formed. This shows that the prices advanced significantly from open to close during the day under strong buying pressure.
For more about this candlestick click here.
Stock Quote Day's Close 0.0182 Previous Close 0.0165 Previous Open 0.0167 Change +0.0017 % Change +10.30% Volume 12,658,900 Stock Activity Day's Open 0.0160 Day's High 0.0200 Day's Low 0.0160 50-Day Close M.A. 0.0253 200-Day Close M.A. 0.0174 65-Day Volume M.A. 9,864,495
posted
Lots of longs on the other boards are pulling there certs. I for one have never done that.To me if you pull your certs you will be a bag holder with your certs in you hand trying to find a way to sell them.
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quote:Originally posted by bond006: Lots of longs on the other boards are pulling there certs. I for one have never done that.To me if you pull your certs you will be a bag holder with your certs in you hand trying to find a way to sell them.
Yeah, but they're pullin certs to verify ownership in this case. Bet there's a problem with some serious naked shorting of this one i olks are pullin certs now!
That is actually encouraging news: Folks pulling certs could be a sign of naked shorts getting ready to be squeezed by the company re-issuing/persuing action.
I always wondered what happens to those of us that bought those naked shorts but didn't certify them?
For example: I bought 1,000,000 shares of stock xyz. There are only 1,000,000 shares outstandng and I still see it traded every day (even though I technically own all the stock).
So, I assume I bought a "fake" 1,000,000 shares that were naked shorted by someone.
Ok, now the company decides o take some sort of action to force naked shrots to cover. So they cover. However, there are still the 1,000,000 that I own, plus all the other people certified thier shares (assuming they all certified their shares up to the 1,000,000, but I did NOT).
What happens to the 1,000,000 shares that I purchased (remember that there are still be 2,000,000 total shares out there - 1 mil certified and 1 mil not certified - mine) and the money associated wth the value per share?
Hope this is not too complex for a simple answer like "You're screwed!" or "Don't worry - your broker must pay you fair market value per share because they were involved in a bad transaction".
Anyone know the answer or where I can find the answer?
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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"How bad is the problem? Listen to this story: On Feb. 3, a man named Robert Simpson filed a Schedule 13-D with the SEC describing his purchase of 1,158,209 shares of Global Links Corp. (OTCBB: GLKCE), "constituting 100 percent of the issued and outstanding common stock of the Issuer." As described in a story that ran on FinancialWire on March 4, Simpson stuck every single share of the company in his sock drawer -- and then watched as 60 million shares traded hands over the next two days.
In other words, every single outstanding share of the company somehow changed hands nearly 60 times in the course of two days, despite the fact that the company's entire float was located in Simpson's sock drawer. In fact, even as recently as last Friday, 930,872 shares of Global Links still traded hands. If Simpson's claim that he owns all shares is accurate, that is a staggering number of phantom shares being traded around by naked short sellers. "
same article...
"All of this raises an important question: If Reg SHO can pinpoint companies being manipulated, what can it do to stop the abuse? What are the teeth behind the regulation?
Glad you asked. Under the new rules, if shares haven't been delivered for 13 days after the transaction, the broker must buy them back -- with money it presumably would collect from the client who shorted the stock in the first place. So a bad actor can break the law a little bit, but if he breaks it a lot, he has to cover the short -- which he was going to have to do anyway and, since he's been manipulating the price by illegal activity, can probably be done at a bargain price. Now that's showing the bad guys! Moreover, as Sen. Bennett noted, brokers working together could get around even this restriction by passing the transaction among each other, starting the 13-day clock over again. "
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Energy and Asset Technology, Incorporated (OTCPK: EGTY), develops and cultivates environmentally responsible products and business opportunities in many areas including their growing tree division. The company is having an impressive day in trading today up 150 percent with over 131 000 traded shares. Today is the heaviest trading day for the company in the last two weeks and it shows as the share price is currently positioned at $0.05, which is a significant rise from the previous closing price of $.02. There has not been any news released from the Company since July 26, 2005, when Energy and Asset Technology reported that they are committed to assist a new venture known as Independent Vehicle Inspection Services (IVIS).
Phoenix Associates Land Syndicate (OTCPK: PBLS), through its wholly-owned subsidiaries, is engaged in the natural resource development, commercial transportation, real estate development and diversified construction businesses. It has been a busy day in the market for Phoenix Associates Land Syndicate as the share price jumped out of the gates this morning. Shares flew up close to the 2 cent mark in the early morning trading session but have recently dropped to $.0171 over the last hour. The investor activity surrounding the Company today is hectic as over 9 million shares have changed hands. The last time the share price made a similar run in the market was on Wednesday of last week, as the share price went from $.0198 to $.017 and then back to $.0198, only to finish at around $.0177 by the end of the day. The last news released by Phoenix Associates Land Syndicate was issued on December 16, 2005. In the report, the Company released information regarding its acquisition of ProGas, Inc., previously announced on Thursday, December 15th. Phoenix acquired the Covington, Louisiana-based Energy Services firm for a combination of cash, preferred shares and restricted shares in a transaction valued at approximately $4,500,000. Total purchase consideration consisted of $2.5 Million in-cash payable in installments, 150,000 Preferred Shares(a) and 10 Million restricted common shares at a value of $.05 per share.
Montana Oil & Gas, Incorporated (OTCPK: MOGI), is an independent oil and gas producer with North American operations. The oil and gas company has had an up and down day in share price since the opening of the market this morning. Share price opened at $.05 and stayed at that price for the first hour of trading. The value of shares then took a step down the charts to $.02 for a little while but has battled back to $.04 over the last hour. The volume of shares traded this morning is at 168 000, which is above the average volume of 98 000 shares. Over the last 2 months, investors have witnessed the share price travel from $.20 in the middle of October to $.04 by the closing bell yesterday. The last press release issued by Montana Oil & Gas was on October 20, 2005. The news on that day was a Company report that the 1-5-60-25W4M Westlock well, that was completed and tied into a sales line in May, has continued to produce strong revenues for the company.
Premium Petroleum, Incorporated (OTCPK: PPTL), is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity prices and under the guidance of a highly qualified management and technical team. It has been a day of gains and losses as far as the share price for Premium Petroleum is concerned. With over 215 000 shares traded in the market today, the share price rose to $.020 in the first hour of trading, only to drop to $.015 in the next hour. The previous closing price was $.017, so the value of shares is down 9 percent on the day. There is no recent news to justify the immediate decline in share price witnessed in the market today. The Company did release a positive announcement on December 15, 2005 that it has engaged the well respected contracting firm of Boyd Exploration Consultants Ltd. to conduct the shooting of its recently designed seismic program. Premium Petroleum Inc. also announced that surveying crews have been mobilized. This report was the last news issued by the petroleum company.
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posted
By: partysasquatch 30 Dec 2005, 12:22 AM EST Msg. 29854 of 29884 Jump to msg. # The destructive nature of the PBLS naked short has been identified and shown to be manipulation, rather than market making, IMO. Judge for yourselves.
naked short data month / total vol / short volume / % short
july / 59015400 / 4544186 / 7.700 august / 129837000 / 9997449 / 7.700 september / 615315000 / 47379255 / 7.700 october / 187918400 / 14469717 / 7.700 november / 213669200 / 16452528 / 7.700
The naked short volume is the Regulation SHO data from ********** and the total volume is the sum of the daily volume for the month.
There are exactly 77 shares added to every 1000 shares that trade monthly. This has been happening from at least July 2005. The accuracy of the decimal point is correct and this type of accuracy can only be achieved with computer aid. The possibility of someone making a market exactly with the same accuracy in naked shorting, for 5 months, is over a trillion to 1. The statistics are extremely clear here.
A constant naked short has nothing to do with the liquidity of a stock to make a market. It is a straight addition to the float and not used to help complete orders. This is definitely manipulation, IMO. What do you guys think?
posted
By: partysasquatch 30 Dec 2005, 12:27 AM EST Msg. 29855 of 29885 Jump to msg. # By the way, I have forwarded this information to the SEC in a complaint that alleges a violation of Securities laws.
Who wants to try and guess there will be a buy-in soon and which date it will begin?
posted
If this true and a buyin buy mm's takes place, as the mm's cover there will be a spike be ready don't fall for pulling your certs you won't be able to sell in time imho.
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