CWEI closed at 14 5/8, up 3/4 on 315.4K volume, high for the day was 15 1/4.
Oil was up 0.61 to $24.49/barrel, Gas was up 0.33 at $3.30. Was, in
CWEI
3rd quarter: $21.12 and $2.62. A very
significant increase in price.
Trading on CWEI:
Thursday 840,000
Friday 100,000
Monday 195,000
Tuesday 315,400
--------------------
Total 1,450,000 over four days
They say the NASDAQ double counts--so how about 725,000 minus one-half
the average volume (38,000) 19,000 X 4 days = 650,000 shares. My guess is
that almost one-half the available shares were not let through
subscription, but traded in through the open market. Those shares traded
in through the market may have included the optional 187,500 shares, we will
have to wait for the announcement to see if the option was exercised.
The volume should return to normal in a few days. Not a bad day. |
