ENGlobal’s stock has been hit hard and I believe this is primarily by hedge funds and short interest. The bashers are heavy at it working the board as well as weak-minded negative posts touting other companies’ failures or sellers of other stocks as if ENGlobal logically follows by osmosis. ENGlobal is making money and growing at 80+ % for 2008. ENG will probably get a Zwieg White ranking for growth again this year. Next year analysts expect $1.01 – so get a grip folks.
When times are bad for hedge funds, and I think they are, I believe they will get meaner like we just saw. I am guessing most saw how Friday, 10 October ended after the surge up. Individuals cannot put orders in that fast on all the exchanges that was simultaneously used. This is a well-known computer trading cycle called a “Pump and Dump”. It was vicious too - up $1.18 and whipsawed down $1.00 with large blocks collected on the close from the shock drop. If this isn’t manipulation then I don't know what is. I am sure they sold out near the top and bought those blocks back at the close. They may have even shorted and bought back – why not, if you have that much control? These criminals are getting mean, desperate or both. You can see by the chart above how ENG is pushed farther down than the averages (click on it to enlarge).
All of this shows that stock can be controlled by hedge funds and less by free and fair markets when fear and manipulation are present. I have written the NASDAQ and SEC Enforcement about the computer manipulation. I got a response too. I have provided them with 45 basher ID’s also. If asked, I am sure Yahoo will give up the IP addresses considering they gave up those of Chinese freedom writers, which sent them to prison. I don’t think they are interested in basher individuals but more so with connections to hedgies.
The price of oil and ENGlobal: It really depends on how low oil goes. Contracts given out by oil companies are based on $45-50 a barrel, some as low as $35. I learned this directly from ENG senior management. Small dips do not affect ENGlobal’s earning capability. I think it affects people’s perception more and thereby the stock price. So until they see good earnings and growth associated with the memory of an oil dip they won’t break that hasty generalization.
ENGlobal is more than oil related. They serve chemical, gas, pipeline, construction and any industry automation. Are you starting to get the diversity and safer picture now? No matter how low oil gets pipelines still need inspecting and repair. The population and consumption is still growing. More right of ways are needed for oil, gas and transmission lines. It was announced that all ENG groups are expected to grow, with bigger growth from Construction and Automation. These are the higher margin groups. ENG announced a couple of DCS retrofits for automation. I have researched and found these can almost double the present one-year backlog. If you have this much backlog you can get through some dips.
I sense that the markets will bounce back soon and our economic recovery will probably be slow. But understand that the economy has been ailing for some time and ENGlobal has performed with good earnings and growth. Good luck to everyone.
When times are bad for hedge funds, and I think they are, I believe they will get meaner like we just saw. I am guessing most saw how Friday, 10 October ended after the surge up. Individuals cannot put orders in that fast on all the exchanges that was simultaneously used. This is a well-known computer trading cycle called a “Pump and Dump”. It was vicious too - up $1.18 and whipsawed down $1.00 with large blocks collected on the close from the shock drop. If this isn’t manipulation then I don't know what is. I am sure they sold out near the top and bought those blocks back at the close. They may have even shorted and bought back – why not, if you have that much control? These criminals are getting mean, desperate or both. You can see by the chart above how ENG is pushed farther down than the averages (click on it to enlarge).
All of this shows that stock can be controlled by hedge funds and less by free and fair markets when fear and manipulation are present. I have written the NASDAQ and SEC Enforcement about the computer manipulation. I got a response too. I have provided them with 45 basher ID’s also. If asked, I am sure Yahoo will give up the IP addresses considering they gave up those of Chinese freedom writers, which sent them to prison. I don’t think they are interested in basher individuals but more so with connections to hedgies.
The price of oil and ENGlobal: It really depends on how low oil goes. Contracts given out by oil companies are based on $45-50 a barrel, some as low as $35. I learned this directly from ENG senior management. Small dips do not affect ENGlobal’s earning capability. I think it affects people’s perception more and thereby the stock price. So until they see good earnings and growth associated with the memory of an oil dip they won’t break that hasty generalization.
ENGlobal is more than oil related. They serve chemical, gas, pipeline, construction and any industry automation. Are you starting to get the diversity and safer picture now? No matter how low oil gets pipelines still need inspecting and repair. The population and consumption is still growing. More right of ways are needed for oil, gas and transmission lines. It was announced that all ENG groups are expected to grow, with bigger growth from Construction and Automation. These are the higher margin groups. ENG announced a couple of DCS retrofits for automation. I have researched and found these can almost double the present one-year backlog. If you have this much backlog you can get through some dips.
I sense that the markets will bounce back soon and our economic recovery will probably be slow. But understand that the economy has been ailing for some time and ENGlobal has performed with good earnings and growth. Good luck to everyone.
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