Wednesday, October 15, 2008

The MOS Trade: BOTD the options day trader!


-2.72 (-51.61%)

*take profits*

up 18%+ !! 



Anonymous said...

what is a good price to get into hk again ..

for a fast trade

go team

BUY ON THE DIP said...

under $10 seems like the place.

BUY ON THE DIP said...

HK preferred ...

NEW YORK (MarketWatch) -- Petrohawk Energy Corp. on Wednesday adopted a shareholder rights plan after losing $8 billion in market capitalization since the summer.
The company blamed the steep sell-off in energy stocks for the action, rather than any specific takeover threat.

"The adoption of this plan is a response to the disconnect between any reasonable valuation of our assets and current stock market values," CEO Floyd C. Wilson said. "In light of recent trading activity it is prudent for us to position ourselves to protect shareholder value."

The Houston natural gas and oil producer lost another 20% of its value in rocky trading on Wednesday. The stock subtracted $2.36 to trade at $10.45.
Petrohawk's market cap peaked at more than $11 billion as recently as July, but those halcyon days are long over.
Since then, Petrohawk has lost about $8 billion in value, making it possibly vulnerable to a larger, cash-rich rival.
Petrohawk did not name any specific suitors, but said its new rights plan will "enable stockholders... to realize maximum value for their shares of the company by giving the board the time to properly evaluate various alternatives."
The company added the move would, "preserve its bargaining power and flexibility to deal with third party inquiries."
Under the plan, all stockholders of record as of the close of business on Oct. 25 will receive rights to purchase shares of a new series of preferred stock
On Oct. 1, Petrohawk reduced its 2009 capital budget by 33% to $1 billion as it focused on its Haynesville and Fayetteville projects. Petrohawk said it's evaluating the divestiture of conventional assets in its Permian Basin region during 2009.

BUY ON THE DIP said...


2.75 -2.52 (-47.82%)