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

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

Fundy,

I've been trying for days to say why I thought that this was a sell, but the bulls on this thread weren't interested.

They weren't interested in the dilution, they weren't interested in the short time frame, they weren't interested in the lack of numbers, they weren't interested in whether the placing might not be the success claimed elsewhere and, above all, they weren't interested in the fact that EVO have been knocking these out for days.

i agree with DD, time to hay hay, calm down.

bit of tree shaking going on. a few guys long at 17 waiting for a few pence flip are getting nervous and bailing out. give it a few days and lets see. my call is a bounce by the end of this week, at the latest early next.

Hils

thanks for that - personally i always find it helps to know why others are shorting a share where i am long -always nice to see a diff perspective as long as justified. I think our timescales are prob very different on this and i think the deal will be successful long term (dilution verses the long term rewards of the deal) but the short term retrace is not a huge shock to me - the biggest concern for me short term is EVO knocking them out as you mention though as seen with other shares in the past this can quickly change

Proptrade,

Do you have any further thoughts on my post 1995 please?

for the record i do not believe for a second that Hils is short. call it a poker playing instinct.

edit - sorry just talking crap.

I'm only 5'0", proptrade. Is that short enough?

Great buying opportunity. Fully invested and can't off load,dam.

MS

Prop

Hils may well ramp / deramp at times but i find it highly unlikely she would say she is short when not - she has more standing on this site than that

I'm in for the long term anyway. It won't be 17p in 12 months.

MS