anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

the new stock is now in the accounts and there may be a few flippers of their 17p stock out there. the overhang of the placement is now out the way and all it will take is a touch of positive news to take these through 20p.

be patient is the best advise i could give.

Thanks. What do you mean by the overhang of the placement is now out the way?

i just mean that from when the placement was announced until the stock itself was successfully placed (about 3 weeks) the stock had substantial news "overhanging" the price...ie major news keeping pressure on the stock.

the term overhang is more usually applied when there is a huge seller of a stock and the market is aware of it and the stock remains under pressure whilst that stock is being sold. you often hear an explanation of a stock rising "because the overhang has been cleared."

Rgds

Re post 1988, Hear what you say Prop.

cheers sir.

Correct me if I'm wrong, but I thought that the price moved according to the balance of buyers and sellers of the stock. I also thought that the news was merely a catalyst which served to attract buyers and sellers.

If the placing was twice oversubscribed, then surely demand is high. I still don't understand why the price keeps falling.

namreh3 if you wish to email me, I will be pleased to answer you.

I stand that, my comments were justified and were all called for.

Nothing more will be posted on this board by me concerning this subject.

Thanks

Wow that all got a bit lively. Guy's lets not turn this thread into that awful slanging match on ADVFN BPRG v SEO. I've really enjoyed all postings on this thread with some expert views being given as well as some fun when things go quiet. I feel as if I know some of you so let's keep things the way they are, nice and friendly but POSITIVE.

LOL

MS

peck, i tend to agree with you if it wss so oversubscribed why isnt everyone piling in!! If its such a good prospect 1p will not stop them buying. I also cant believe that it is those that obtained shares at 17p selling at a profit of 17.6p!!!! profit would not be worth getting out of bed for! Not impatient ...yet ,but it has not started in the manner i thought it would . You would expect a little uncertainty where there is any rerating / valuation happenning but the news was so positive you would ahve thought it would have opened at a small premium. still early days

Thanks to "My Mates" on ADVFN for the below.

Short sellers were on the prowl yesterday and dealers reported they were busy attacking two stocks in particular. The car dealer Pendragon was the worst affected, falling 8p to 267p, with those shorting the stock taking the view that all is not rosy at the group and that it is struggling amid tough trading conditions. Suggestions that business is not booming for car dealers was no surprise to those who follow the sector closely. They noted that back in September, HR Owen, a Pendragon rival, was forced to issue a profit warning.

It was less clear why shorters were targeting Sterling Energy, down 0.25p to 17.75p. The oil explorer has had a great run over the past year on hopes that its assets in Mauritania will eventually prove to be very profitable.
http://news.independent.co.uk/business/analysis_and_features/story.jsp?story=585739

The game is up you lot, now bu**er off.

You need to see a shrink, old girl. This is stuffed now they've shot themselves in the foot by issuing all that new stock.

Target 10p.

:o)

Hils

Youve missed a zero off your price target :-)

good post seawallwalker,Calm down Hilary ....its only a commercial!

It's coming off boys.

:o)

Hilary

On the basis that your last guess at where this was headed was 100p by xmas, lets just hope you are as far wrong with this guess. As per the last guess, you provide no reasoning behind this figure - just pick a nice round number - any justification for this price target?

Fundy,

Yes. I'm short and I want it to come down. Isn't that justification enough?

:o)

Hay whats going on here,,hay,hay,calm down/calm down,,dont you know theres an important football match on tonight,,come on the reds,,i know its off topic but lets keep it light .

H,keep the faith your on top of the league..

So ramp when long deramp when short but both with no actual reasoning shared - your choice i suppose