Listen up...

[Palm]

I was texting with Palm this morning when IOC was down 2 and told him I figgered we would hit into the 75-76 area which represents a 38% retracement of the last leg up and also coincides with the bottom of the uptrend lines. I would expect a bounce at these levels with a close over 81. Even better would be a Croozian Reversal!

Liar!! You never said a thing.  Hohoho.  Croozer was spot on with this comment.  Couple of hours ago said we had filled a gap just under 79 and would probably hit 76 or so then hopefully bounce.  Is this it on the way to 81 close.  Let's see how good croozer is (usually hits it dead on).

[ValueSleuth]

BTW, $233, the next Fibo number after $144, is certainly not out of the question if there is any kind of full credit given for a $2.50/mcf resource valuation ascribed to the combination of E/A and T -- even forgetting all other prospects and the refinery operations.

.....or certainly a Cove situation.

VS

[trans]

I was texting with Palm this morning when IOC was down 2 and told him I figgered we would hit into the 75-76 area which represents a 38% retracement of the last leg up and also coincides with the bottom of the uptrend lines. I would expect a bounce at these levels with a close over 81. Even better would be a Croozian Reversal!

[trans]

I'm rooting for T Crooze action. The acid test for today's action is for Lib's last 30-40 min daily mini-raid on IOC to be fought off and Tom's prediction come about. That, imo wouldbe quite positive and raise prospects that this is an early opt exp raid that may give us relief into Friday instead of selling pressure.

[trans]

fwiw, this is an excellent area to initiate coverage of IOC. Did I hear someone last week comment that Goldie analysts were busy doing some homework on IOC? Couldn't be a better entry point, if they clear up their option trading as a marketmaker

[efi426hemi]

Outstanding thread, I very much appreciate everyone taking the time!

H&H,

hemi

[jft310]

fwiw, this is an excellent area to initiate coverage of IOC. Did I hear someone last week comment that Goldie analysts were busy doing some homework on IOC? Couldn't be a better entry point, if they clear up their option trading as a marketmaker

My bet it when IOC announces a deal then Goldman picks up coverage. Goldmaan is a large firm with different parts of the firm at odds with each other.

[ValueSleuth]

FWIW, look at the chart action on and after Feb 8 for the kind of thing happening over the last few days.  Today corresponds to Feb 14.

Basically everything is set up the same way.

If that pattern if followed, we'll at least retest the 20-day MA in the next couple of days and with Max Pain at $82.50, the setup is perfect.  (Although Max Pain may be moving in the $80 direction after today's action.)

Connect the dots.

VS

[ValueSleuth]

FWIW, look at the chart action on and after Feb 8 for the kind of thing happening over the last few days.  Today corresponds to Feb 14.

Basically everything is set up the same way.

If that pattern if followed, we'll at least retest the 20-day MA in the next couple of days and with Max Pain at $82.50, the setup is perfect.  (Although Max Pain may be moving in the $80 direction after today's action.)

Connect the dots.

VS

Furthermore, look at high volume "trashing" days  (March 20, April 5, and May 14) and what happened immediately thereafter.

The set-ups are not perfect, because the technicals were already in washout mode.

Bottom-line is that IOC has very few recent cream job days like today and the set-up was perfect (stock overbought, bad technicals, OE week, post-CC, etc) for a crunch job.

VS

[TomCrooz]

Sorry guys, I suck. Promise I will not make any more crappy calls like the one from today. Missed it by 60 cents and should be shot on the spot( hopefully with Duma directly behind me).