Hi, Graham. Have you been watching ELD? A similar kind of situation with their hybrids, except they are potentially in a merger situation, but may be left with a part of the company. Interesting to watch the action of the heads and hybrids there- hybrids solid pricing, and heads plummeting.
I've watched PPX and PXUPA, too- both cooling off, as you've said. I wonder if the PE crew who arebuying up the hybrids are just letting them fall down to "reload" and buy more. They have certainly averaged down. Very slight volume on PPX today- 26 trades for $17,000. Barely a real buy/sell in there. Maybe those with an interest in some kind of corporate action on PPX are watching the ELD/RHL situation to see how it works out.
SRS Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
