well fellow SGY holders, what a great day! VWAP=12.8c, SGY closed at year high of 12.5c, which is a major major resistance level. To crack year high major resistance is not easy in itself & to hold the strength on the back of major holder selling news is even harder. And SGY has done exceptionally well given the circumstances. Dow future up big time as of now & there'l be no doubt more DTers will notice SGY when they do research tonight. So still looking positive for tomorrow.
The $1ml question: has TIG finished selling? well personally i dont care, they only had 13ml (6%) left last week. And in most likelihood they decide to sell down to under 5% (11ml shares), that means they'l only have to sell another 2ml shares. Volume traded today is 8ml, so the 2ml may have already been flushed out today, leaving no extensive selling pressure for the 2 remaining days till spudding. Even if they decide to sell their whole lot, it wont be that hard for the mkt to digest the remaining 10-11ml with high volume like today.
Some posters wondered if they knew anything bad? well, look at what happened to GGP after they sold.
Looking at charts: slow stochastic has actually come down from overbought level (nice). And look at that super bullish MACD crossing & positive divergence breaking MACD diagram high, signalling continued strength. Obviously a lot riding on what TIG intends to do tomorrow, but Im still quite bullish on this one.
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