We did not get the full HT creation so the count of the 4th wave reverts to as shown below. Someone is taking advantage of low volume in order to walk the price down. I proved this to myself in the extended trade. Someone had 2k shares for sale asking $2.35 Because I think we just hit the bottom of 3 of 4 (per below) today, I put in a bit for 4k shares at 2.35. AS SOON as my order went in, the seller retracted his offer to sell any shares at 2.35! I mean to the microsecond. So that was clearly a computer generated bluff. I called it and the market maker slunk off. My bid has been standing for several minutes now and they only sold me 200 shares - just enough to ensure I get charged a fee if I cancel or if no more after hours trades occur and the remainder of my order is automatically cancelled.
But I have little doubt that they will be back at it next week trying to convince everyone that a company which is beating earnings even in a shitty price environment for oil is essentially worthless. This isn't some company which has issues a going concern notice. Maybe there is massive fraud going on though so that is always a wildcard. Anything that George Economou is involved with is shady.
In any case, if I can pick up more shares Monday then I will look for the a-b-c red 4 and then dump them again one final time for the push down to ~$2. But after that I'm going in big, guns blazing. Not because of the fundamentals though because fundamentals have not saved these shares from having a price to book value of zero point one one. That's right 0.11. In other words, the value of the equipment and company property is ten times the market cap of these shares. So there is either serious Volkswagon type fraud going on here or the herd is just panicking into a great depression for oil services. I suspect it is the latter.
When these move back up it will be with blinding speed IMO.
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