HKN

[OneStockMind]

I'm holding HEC for over 2 years now.
My average is .92 and I almost sold everything when it went to test 1.
I will still hold but I have a bitter experience waiting tooooo looong for something to happen.
Any predictions here?

[ScottishTrader]

Hello all,

Well looks like hardly anyone is following this one, which is strange, and I am quite disappointed with myself, as I just realised that I had thought this was good to go over a month ago (when it was!!)

But big props to jonathanchill, who brought this one up here and didn't get much in the way of response

Anyway, things seem to be looking up for HEC, and last week they announced a share buyback of 10 million shares.  At the time the price was .70, and since has been consistently rallying, culminating in a BIG day today - up 7.8% on a volume of over 6 million shares  - significantly above the last couple days of trading.  I am guessing that they are buying the shares back for a reason, and that the shares at this price may soon be cheap.  
This is probably creating and will continue to create some solid buying pressure.

Looking at the chart, there is an ascending trendline that we seem to be pulling away from now, but it is too soon to tell if we are going steeper...  However, it looks like we closed above a short term resistance level at .81, which if it holds tomorrow could signal some good things.

The message boards claim that we could see prices between $1 and $1.50 before too long, and I would probably take what they have to say with a pinch of salt, but the last rally was almost 40 cents, in other words over 60% of the share value.  A similar rally here woould put us happily over $1.

Not too sure about targets/higher resistance levels yet, but we could call the previous high of .98 a good starting point.  If anyone else is, please chime in, but I will be watching closely for a position at the open

Here's the chart:

Scotsman

[rickjust]

hi scottishtrader,
i have been watching this one everyday since my last post here. slowly building everyday ,
i may look to get in tomorrow.
no resistance above .87
goodluck.
maxi

[johnathanchill]

Hello all,

Well looks like hardly anyone is following this one, which is strange, and I am quite disappointed with myself, as I just realised that I had thought this was good to go over a month ago (when it was!!)

But big props to jonathanchill, who brought this one up here and didn't get much in the way of response

Anyway, things seem to be looking up for HEC, and last week they announced a share buyback of 10 million shares. At the time the price was .70, and since has been consistently rallying, culminating in a BIG day today - up 7.8% on a volume of over 6 million shares - significantly above the last couple days of trading. I am guessing that they are buying the shares back for a reason, and that the shares at this price may soon be cheap.
This is probably creating and will continue to create some solid buying pressure.

Looking at the chart, there is an ascending trendline that we seem to be pulling away from now, but it is too soon to tell if we are going steeper... However, it looks like we closed above a short term resistance level at .81, which if it holds tomorrow could signal some good things.

The message boards claim that we could see prices between $1 and $1.50 before too long, and I would probably take what they have to say with a pinch of salt, but the last rally was almost 40 cents, in other words over 60% of the share value. A similar rally here woould put us happily over $1.

Not too sure about targets/higher resistance levels yet, but we could call the previous high of .98 a good starting point. If anyone else is, please chime in, but I will be watching closely for a position at the open

Here's the chart:

Scotsman

Cheers Scottish Trader...

I am glad someone has made some T/A for this Stock . I am not sure why it is still not looked at by this board. Yes this stock has not went up 50% + in 4 days but it has had great volume with the Company buying back shares. I am new to trading but if I owned this company why would I by back 10 Million Shares at .70c. if they think the stock is not undervalued. Well I will continue to watch this stock and hope it can create a new support line over the .98c Level. I think if this stock has volume over the next few sessions we may have something here.

Harken Energy Corporation, through its subsidiaries, engages in the exploration, development, production, and acquisition of oil and natural gas properties principally in the onshore and offshore Gulf Coast regions of south Texas and Louisiana. The company also engages in the coal bed methane exploration and development activities in Indiana and Ohio. Further, it engages in the exploration and production of crude oil in Colombia, Panama, and Peru. As of December 31, 2004, it had 22 BCFe of proved oil and gas reserves, as well as 4.2 million barrels of international proved oil reserves. Harken Energy was incorporated in 1973 and is based in Southlake, Texas.

Dallas, Texas – August 9, 2005 - Harken Energy Corporation (AMEX: HEC) reports quarterly financial results and is pleased to announce Net Income of $15.7 Million for the period ended June 30, 2005. As summarized below, total revenues in the second quarter of 2005 increased to $11.6 million, an increase of 44% over the second quarter of 2004, due to increased international production and higher oil and gas prices. Non-GAAP Operating Margin increased to $5.8 million in the second quarter of 2005, representing 54% growth over the same period in the prior year, and a 135% improvement as compared to the first quarter 2005.


I was listening today to CNBC and they say Natural Gases are going to double in price in the near future. I think also with this company having many onshore and offshore properties in the Lousiana and texas area depending on the damage with this volume it may indicate they did not have as much damage as first thought?

Who knows I need to dig deeper into this company but the way Natural Gases and Oil Prices in the near future we may have a nice stock to ride over the next year or so?

[ScottishTrader]

oh my god didn't George W Bush used to run Harken, back in the day?

If he did, I dunno if I can go in on this one, my concience might not allow it!

But then again, as Pfsr Hal said, "It's only money" if it's not mine, it'll be someone elses

Let's hope tomorrow is a beauty

[johnathanchill]

Nice work scottish trader check these links out...

http://www.thetruthaboutgeorge.com/special/harken.html

http://www.guardian.co.uk/bush/story/0,7369,752706,00.html

http://www.buzzflash.com/perspectives/bush_harken.html

http://www.almartinraw.com/harken.html

Donated by GOOGLE.COM

But hey Dick Cheney was on the Board of Directors for Haliburton and you see how many contracts they have received... Also there stock is going UP AND UP AND UP....

Maybe this board will start taking a better look...

MAYBE...

GWBUSH is paying back a company that once helped his pockets...

MAYBE I will share with the US PRESIDENT!

[setravis]

I like it it ...Nice looking chart.
I checked it out so much that I am going to buy this morning.
Support @ 0.74...0.72...0.68
Resistance @ 0.87
Recent CandleStick Analysis
Very Bullish
Sept-27-2005 Bullish Engulfing 


Technicals
Most Actives
MACD - Bullish
Percentage Gainer

Last Price Quote is:
12.07%above 13-day EMA
29.52%above 50-day EMA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $98.79 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Neutral
More...


Nice work johnathanchill....Applaud...

[Melf Elf]

Can someone enlighten me on why nobody has provided any T/A. I put this on the Stock Picking Board for a reason. Is it because I am not an Honors Member? or the stock just has not great T/A for feedback.

Johnathan,

Applause for your work on HEC. 

Please don't be discouraged by the lack of response.  It doesn't mean that people aren't interested, it's more a case of the number of posts to read, as you mentioned elsewhere, and the time that it takes to do due diligence on each stock before making a comment, post a chart, etc.

Also, HEC should have been posted on the Penny Stock Board since it's under $1.00.  Next time you have one under a buck, you might post it there, and get more responses.

It would be nice to know why you would have not picked this stock since it has went up nearly 50%? And has continual strong volume. I want to learn and not just pick what everyone is picking. 

Please advise... 

A number of us don't buy penny stocks, or rarely buy them.  We'd have to buy too many shares, which usually throws the BID...ASK out of whack if the stock is illiquid (low volume).  This one is fine now, since it's trading in the millions of shares, but if it goes back to trading 100,000 - 200,000 shares, it can be difficult to get out of it.

Chart looks good.  I like the fact that it made the "W"-bottom target, and that on a re-test, the middle of the "W" ($0.68) held on a weekly closing basis.  Looks headed toward next resistance at $1.38.

[setravis]

I think it is posted on the correct board.
HEC.....is listed on the AMEX...Correct.
The Penny Stock Picking Board is for stocks listed.....OTCBB  and Pink Sheets...am I correct?
But anyway nice work Johnathan....I'm picking it up!!!!

<<<<<<<<<<<<<<<<<<<<<APPLAUD AGAIN>>>>>>>>>>>>>>>>>>>>>>>>>

[Melf Elf]

I think it is posted on the correct board.
HEC.....is listed on the AMEX...Correct.
The Penny Stock Picking Board is for stocks listed.....OTCBB  and Pink Sheets...am I correct?
But anyway nice work Johnathan....I'm picking it up!!!!

<<<<<<<<<<<<<<<<<<<<<APPLAUD AGAIN>>>>>>>>>>>>>>>>>>>>>>>>>

You're right, Setravis.   I didn't read the fine print beyond the title: "Penny Stock Picking."

[johnathanchill]

Glad I had some feedback. I appreciate everyone's help. Natural Gases are hot in the Market today and will continue. With low production and low reserves the Natural Gas price has nearly doubled this year. I can only see it getting higher.

It may not spike today or tomorrow. I think this sector, this companies ties with the Federal Goverment and the buy back of 10 million shares is just the remedy for a  short term gain.
Especially this winter!

The stock also hit a 52 week high at .98c a share this month.

[setravis]

Oh...forgot you, Melf Elf.......
Thanks for the time and outstanding work on your charts.

Give you applaud also!!!!!!

[ScottishTrader]

Hmm...

Well, was a little over-eager and bought in at the open at .85, but it seems like today was not the day, barring an end of day run.

A little disappointed as I thought this one was set to go.  But the volume is still here, and I think we should see good things from this one, just gotta give it a little time.

Thanks for the comments on this one, Melf and setravis, hope your trading days are going better than mine (all I see is red  )

[ScottishTrader]

Okay, having bought in at the upper support level of .85 on yesterdays open, which in hindsight was not a very clever move, I am in on this and so should post a trading plan.

As I see it, and from others' analysis (thanks Melf Elf and setravis) we have support lines at .75, .73 (as I read them) and then below that at .68.  I think that the ascending trendline is valid, which today stands at .73.

For me, a retrace to .68 is too much pain and breaks the ascending trendline, so I will stick with a sell level of below .73.

**Question** I know David usually goes for closes below resistance, do others think it is better to stick with closing values than monitor levels intraday

There is a lot of talk on the MBs about this stock being heavily manipulated, and that management are not exactly the cleanest of whistles (being Bush cronies, that wouldn't surprise me) so they and MMs could be manipulating this one to get their 10 million shares as cheap as possible.

With gas in particular gaining a lot of interest at the moment, This should pick up, and I'm sure that if Harken is instigating a share buyback, it is at least in part because the think it has reversed from a long term low.  Let's just hope so.

Will be keeping a close eye on this one 

[ScottishTrader]

Hmm...

well, looks like this one has ppulled back a lot more than I would have liked to see, but technically is resting on support.  My previous support line was violated, and I think it was not a very good one, so I have re-drawn it and today's close just sits on it.

There has been a lot of selling pressure the last few days, and what I don't like is that it is increasing.  However, I think we have resistance at .68, as I mentioned before, and while previously I was not willing to take that kind of pain, I want to see if we get upward movement tomorrow.  Any downward movement below .68 and I will cut my (considerable) losses and move on.

All I can say is thank goodness for HYRF   made my week bearable