3SOF

right now I am annoyed with myself again 

This morning, after sitting here seeing no movement, I decided to sell HEC to buy one that was definitely moving, HEB (funny that, eh?)  It turned out to be a good move, HEB was up nearly 30% for the day, and nearly 18% for me.  But I didn't have the patience with HEC to stick it out and sell something else (that's the problem when you're fully invested, you gotta sell something to get into something, and I never want to sell anything while it is still in play   )

So I sold out of HEC at .70, and then what does it do?  After a day of big fat nothing, and slipping to a low of .69, it goes and runs to .75!!!  I don't like missing the chance to make back some of a loss on a big loser, and coulda sold DESC, which was retracing anyway, but that's what I did (coulda woulda shoulda - always easier with hindsight  )

So I've been sitting here trying to figure out the chart and what was going on - my ascending trendline was broke yesterday, adn I didn't like thatt, but the problem with ascending trendlines is for the most part its just guesswork, educated guesswork, but still.  Anyway, enough of the yabbering, here's what I came up with.

It seems like HEC is being manipulated a bit, but is controlled by horizontal resistance/support levels, and likes to hang out near them. So we did have strong support from the resistance at .68, which appears to be strong resistance, and I would be happy to call the short term low for now.  Above that we have resistance at .75 (where it closed), .81, and strong resistance at .86.  Above that is the short term high of .98.

There are also a couple of ascending trendlines that appear to be in play, as one will not fit to the chart as it stands.  One of these is a bit longer term and is more shallow.  This one has dictated support since the end of august.  The sharp trendline provided support during the August breakout, but this breakout couldn't hold the sharp trendline, and so this support became resistance.  You can see that the recent trading range has been operating between these two trendlines.  One note about the shallow trendline, which the chart breaks earlier on, is that it appears that the price will bounce off it, but can slide sideways through it more easily, which can be seen in June.  I don't necessarily see that as a problem, as in these instances, there was simply no volume or momentum.

So I believe that is our retracement in, and HEC will push up from here, most likely to .86.  I wouldn't be surprised if we are in the midst of an ascending triangle consolidation, but we'll just have to see whether it finds resistance at .86.

Right, now I'm annoyed, I'm gonna have to sell something else and buy back in tomorrow, and see if I can ride it up to .86 

Happy trading, 

The Scotsman

Moving in the pre-market.... booya !!!
+21.21%.......Volume @.......72,600

I'll be trying to buy HEC this morning for limit price @.66
MACD shows upward bullish trend about to cross over centerline and have had very recent insider buying.
Bought @.68

Slowly moving up

Not to late to get in before runup. Ended @.73 today

Last Update: 1/10/2006 10:33:53 AM Data provided by

MIAMI, Jan 10, 2006 (M2 PRESSWIRE via COMTEX) -- We like stocks trading big dollar value volume! A very interesting indicator to look for is where the money is flowing into. We have a filter that we watch every morning that shows us "Dollar Volume". We also like stocks that are trading at bargain prices. As of 10:30AM, a couple of these stocks are: (GTE), (CNR), (IVX), (HEC)

  For the nine months ended 30 September 2005, Harken Energy Corporation's revenue increased 33% to $30.5M. Net income applic. to comm. totaled $41.7M, vs. a loss of $10.8M, Revenues reflect an increase due to the new crude oil sales contract with Petrobras Colombia Limited. Net income also reflects a decrease in accretion expense, the presence of gain on exercise of global warrant and the presence of gain on sale of subsidiary.

As a trader, a very intelligent place to put your money, is where the money is flowing into. When you get into stocks that are trading millions of dollars within the first 30-60 minutes of the market being open, chances are you will be able to get out of your position without hurting the stock. These are the kind of trades that you want to get into.

As the saying goes...follow the money!

To see the complete Movers & Shakers Blog go to: http://www.stockwire.com .

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Continues to make higher gains each day. Plan to sell when MACD begins to show sell signal

Great movement on today's news.

onestockmind
What news is out. I cann't find. Didn't realize it was moving up till I read post. Are you in. I bought mine @.68

Hi wrangler.
I'm in for the last 2 years.
Here's the news and the link:

Peru signs deal with Harken Energy for Maranon basin gas block

08-04-05 Peru signed an exploration and production contract with Harken del Peru, a unit of Houston-based oil company Harken Energy, for block 95, located in the Maranon basin in north-eastern Peru.
Under the terms of the contract, approved by the Cabinet in March, Harken is required to invest a minimum of $ 27.3 mm.

The contract, 30 years for oil and 40 years for gas, includes a seven-year exploration period, according to a statement from the Ministry of Energy and Mines.
Harken is obligated to carry out a pre-feasibility study that covers technical, economic, marketing, regulatory and environmental aspects. Harken official Guillermo Sanchez told at the signing ceremony that the company is looking at two more areas in Peru's northern jungle and hopes to sign another two contracts this year.

The contract is one of ten that Peru expects to sign this year, according to the head of state agency PeruPetro, Antonio Cueto.
Among others, Peru's Cabinet has approved a contract between PeruPetro and Burlington Resources Peru to explore in Block 104, also located in the Loreto district. Burlington Resources Peru is a unit of Burlington Resources.

Source: Dow Jones


http://www.gasandoil.com/goc/company/cnl51915.htm

Thanks onestockmind
2 years that's along time holding. What price did you get it at. Maybe you're payday will be soon or are you in for longer time. Left reply for HIV

Found this while searching differant sites. Will be interesting to see it their five day forcast works out
http://www.stock100.com/

Feb.9th is reporting date for HEC. Now would be a good time to get in before run up. Will keep this thread active till I sell. This will be an excellant play for 50% or more profit.

This mornings pre-market trading so far

HARKEN ENERGY CP (RT-ECN)   
Symbol: HEC
Last Trade: 0.80 8:01AM ET
After Hours Change: N/A
Today's Change: N/A
Bid: 0.78
Ask: 0.80

HARKEN ENERGY CP (RT-ECN)   
Symbol: HEC
Last Trade: 0.83 8:37AM ET
After Hours Change: N/A
Today's Change:  0.05 (6.41%)
Bid: 0.80
Ask: 0.82

This will be last post on pre-market trading for today. Going to watch for possible sell today
Bid Orders 
Price  Order Size 
0.80 5190
0.78 16000
0.76 1200
0.75 1000
0.74 1250
0.73 7000
0.70 4000
0.66 310
0.62 800
0.60 2030

  Ask Orders 
Price  Order Size 
0.82 24050
0.83 4200
0.84 500
0.85 13500
0.88 7500
0.89 5000
0.92 6300
0.95 500
0.97 10000
1.00 1230

resistance is about to be broken
http://quotes.barchart.com/texpert.asp?sym=hec