Friday, April 22, 2005

WOW!! ERHE Hits $0.825; Saw $0.79 In A.M. Trading; 500,000 Shares In The First 10 Minutes!

Update, 4:23pm EST, 4/22/05: The last trade was at $0.815, yielding an $0.075 gain for the day, and a final gain for ERHC On The Move of $9,229 for the day and $46,030.13 since November. The closing Bid was $0.81, the closing Ask $0.815, and the final volume was 3,407,200 shares.

By 4:00pm EST, there were 747 trades today, and Buys led Sells 1,957,405 to 1,374,391 and 75,435 shares were unidentified. There were 30 Buys and 7 Sells in the last 10 minutes, with the largest a 20,000 buy and a 16,500 buy at 3:53 and 3:54pm. A 20,000-share sale occurred at 3:54pm EST. The last 10 minutes until closing saw 115,700 shares purchased and 50,950 sold, driving the price briefly to $0.82 and then back to $0.815. The last two trades were Buys of 3,000 and 250.

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Update, 3:59pm EST, 4/22/05: The price has slipped to $0.81, and the Ask to $0.815. Volume has moved over 2,400,000 with a minute to go.

Update, 3:58pm EST, 4/22/05: The share price still at $0.815, while the Bid is stuck at $0.815 and the Ask is fixed in stone at $0.82. The volume is still at 3,254,100, unchanged for 8 minutes.

Update, 3:56pm EST, 4/22/05: The share price still at $0.815, while the Bid is stuck at $0.815 and the Ask is $0.82. Volume still at 3,254.100.

Update, 3:50pm EST, 4/22/05: The price is back to $0.815 and the Ask now is $0.82 with a $0.815 Bid. Volume is 3,254,100 shares.

Update, 3:48pm EST, 4/22/05: The Bid backs off to $0.80, while the Ask holds at $0.815. Volume is 3,214,600 shares.

Update, 3:45pm EST, 4/22/05: 100,000 shares traded in the last minute. Share price is $0.81.

Update, 3:44pm EST, 4/22/05: Volume is picking up now, standing at 3,092,000, with the price at $0.81 and the ask at $0.815. The share price is $0.815.

Update, 3:41pm EST, 4/22/05: We're back to $0.81 share price on volume of 3,067,000. The Ask is now $0.815. and the Bid has moved to $0.81.

Update, 3:38pm EST, 4/22/05: The Ask has moved to $0.81 and the Bid to $0.805.

Update, 3:36pm EST, 4/22/05: The Ask has finally moved, to $0.805, and the volume is 3,040,500 as the price goes to $0.805. The Bid is now at $0.80.

Update, 3:33pm EST, 4/22/05: The Bid has moved up to $0.795 as volume pushes past 3 million. The current share price is $0.80, and the Ask stays at $0.80.

Update, 3:28pm EST, 4/22/05: The spike is slow in materializing, and it looks like targets of $0.80-plus are in danger. Volume is stuck at 2,969,800 and so is the Bid and Ask, $0.792 x $0.80. The price is back to $0.80, however.

Update, 3:22pm EST, 4/22/05: The volume is now 2,964,800 as the share price hits $0.80 again and quickly retreats to $0.792.

Update, 3:17pm EST, 4/22/05: The Bid has moved to $0.795.

Update, 3:15pm EST, 4/22/05: The Bid has moved to $0.79, the Ask is $0.80, and the price is $0.80 on volume of 2,946,600 as the spike begins.

Update, 3:10pm EST, 4/22/05: Volume is at 2,934,100 shares as the 3:15pm spike approaches, and the Bid has just lifted to $0.785, with the Ask at $0.80. The share price is $0.79. About 46,00 shares have traded in 11 consecutive sales 15 minutes ago, but Buys still lead Sells by 1,695,065 to 1,168,493 with 66,835 now undecided.

Note: A huge brush fire is visible for a 70 miles in the Everglades National Forest in South Florida. Also, Nasdaq has bought Instinet to match the NYSE's purchase two days ago of Archipelago. The price was $1,9 billion.

Update, 3:00pm EST, 4/22/05: About 90,000 shares traded in the past 10 minutes, a solid pace, but the Bid has fallen to $0.782 and the Ask is still at $0.79. The share price is currently $0.79. Volume has climbed to 2,930,400. Now we await the decision of investors in the final hour of trading before the Nigeria-Sao Tome and Principe Joint Ministerial Council meeting begins. Today is the anniversary of the April 22, 2004 high of the year, when we hit $0.96 in anticipation of awards that did not materialize. We won't get there today, but we'll be blasting past it by next Tuesday afternoon, we think.

Update, 2:44pm EST, 4/22/05: With 577 trades as of 15 minutes ago, Buys have moved 620K ahead of Sells, by a margin of 1,598,233 Buys to 978,343 Sells. The price is dropping, however, and now stands at $0.79, while the Bid has just fallen to $0.785, and the Ask is lower for the moment at $0.79, on volume of 2,794,300 shares. It appears the Market Makers are now walking the price down. With this weakening, I don't see us hitting $0.90 anymore, but I do concur with other posters that we ought to close at $0.84, if a big spike comes late in the day as buying opportunities below $1.00 disappear.

Update, 2:01pm EST, 4/22/05: The Bid dropped back to $0.805 and the Ask to $0.81 for a minute or two, and then recovered to $0.81 x $0.82, with volume climbing slowly to 2,576,500. At 2:01pm EST, the price is $0.82. Quite realistically, with the price gaining such strong support at this level, we may exceed my $0.85 target by the close, and even hit $0.90. It is the last chance to buy ERHE under a dollar, in all probability, with the Nigeria-Sao Tome and Principe Joint Ministerial Council getting its meeting underway on Monday morning and action then likely to be frantic.

Update, 1:50pm EST, 4/22/05: Volume is slowing down before the anticipated 3:15pm spike, and is now at 2,531,200, while the Bid remains at $0.81 and the Ask and share price are still at $0.82, up $0.08 on the day. Buys 15 minutes ago were widening their lead over Sells by a margin of of 1,504,794 to 963,393, with 33,360 unidentified and a total of 532 trades. We hit 800 trades during the sell-off last Friday, and seem on track to top that number on a very positive up-day today. I am now anticipating a close of $0.85.

Update, 1:30pm EST, 4/22/05: With volume crossing the 2,500,000 mark, the Bid is now $0.81 and the Ask is back to $0.82, and the share price is $0.82. That's a $9,843.20 gain today for ERHC On The Move's portfolio of 123,040 shares averaged at $0.4394, and a total gain of $46,030.13. We are up $20,000 since yesterday!

Update, 1:26pm EST, 4/22/05: Bid now at $0.81, Ask and share price at $0.82, with volume at 2,446,400. At 1:10, there were 493 trades - a huge jump from the noon hour - and 1,414,947 Buys and 939,093 Sells, with 33,260 now unidentified.

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Update, 1:18pm EST, 4/22/05: Volume continues to spike, with 2,438,800 shares traded and the price at $0.81 and the Ask now at $0.81. The Bid stays at $0.80.

Update, 1:08pm EST, 4/22/05: The price is now $0.805 on 2,376,600 shares. Volume is soaring. The Buys have opened a 500K lead over Sells as of 15 minutes ago. At 12:46pm EST, Buys were 1,313,057 to Sells of 813,818, with just 3,760 unidentified. The Bid is at $0.80, and the current Ask $0.805.

Update, 12:56am EST, 4/22/05: Well before the appointed hour, ERHE hit a six-months high of $0.825 at 12:52 for a few seconds before falling not too far back to $0.805. the Ask, with the Bid at $0.801. Volume crossed 2,260,100 shares and is dramatically picking up.

Update, 12:38am EST, 4/22/05: More than 100,000 shares have crossed the tape in the last 10 minutes, and the price remains at $0.79, with volume now at 1,922,100 shares, still on track for a 5 million-share day.

Update, 12:28am EST, 4/22/05: The price has now improved to $0.79, which is the latest Ask, while the Bid is now $0.785. I'm hoping to see $0.80 shortly after 1pm EST, if not sooner. Volume is 1,817,000 shares and picking up. At 12:04pm EST, on a 15-minute delay, Buys were 942,877 and Sells 709,402, a significant leap from earlier in the day, on 344 trades. Only 3,760 shares are unidentified.

Update, 11:58am EST, 4/22/05: The Bid has finally moved back up to $0.78, and the Ask and current share price are at $0.784. Volume is 1,628,200 shares as traders head to lunch. Buys now outrunning Sells (as of 11:40) by 913,697 to 689,082, with just 3,760 unidentified and a total of 327 trades.

Update, 11:45am EST, 4/22/05: The Bid has slipped back to $0.775, while the ask remains at $0.784. The last sale was at the Bid. Volume is 1,609,500 shares.

Update, 11:31am EST, 4/22/05: As the action falls into the A.M. coffee-break lull, it's time to take a break for coffee and some cold cereal with a banana - a late breakfast! And I want to thank all of you who have visited the page and clicked our ads in recent weeks. It has made a tremendous difference to have your support despite some of my failings on this page. I deeply appreciate it.

We will probably cross the 100,000-visitor mark late tonight, and since our inception on January 12, we have now earned a total of $303 from your clicks. When I pay the rent this month, I'll have you to thank that I didn't have to sell my ERHE shares. By the way, you can see me working at "ERHC On The Move" at PalTalk.com - I'm the one dressed all in green! Click on Groups, then on "Miscellaneous," and you'll find our site listed way down below the ERHC Energy site. Stop in and say hello. You don't need a microphone or a camera to hear audio, see video and send text chat, and we're usually open until after 4am EST.

The price is now $0.784, while the Bid remains at $0.781, on volume of 1,574,300 shares. As of 19 minutes ago at 11:11am EST, Buys are solidly outpacing Sells now by 875,845 to 668,361, with 3,760 unidentified. That's the first time they've had the clear lead since a few minutes after the opening bell.

Update, 11:11am EST, 4/22/05: Volume has slowed in the past 10 minutes, and now stands at 1,543,000, while the bid has bumped back up to $0.775 and the ask remains at $0.78, which is also the current price.

Update, 10:50am EST, 4/22/05: As of 10:35, Buys of 636,807 outpaced sells of 545,790, with 3,760 shares unidentified in a total of 221 trades. At 10:52am EST, The Ask is at $0.78 and the Bid at $0.775, so there has been a little slippage in the past few minutes. 1,391,100 shares have traded today.

Update, 10:40am EST, 4/22/05: Price is $0.79. while Bid is $0.785 and Ask is $0.79. 1,236,500 shares have traded. ERHC On The Move is up $6,152 on the day, for a total gain of $42,954.13.

Update, 10:30am EST, 4/22/05: Price is $0.7880, while the Bid is now at $0.785 and the ask at $0.79. 1,120,600 shares have traded.

Update, 10:28am EST, 4/22/05: We've broken 1 million shares in the first 55 minutes, a sign that we could see volume top 5 million today. The current price is $0.78, and the Bid is at $0.78 and the Ask at $0.785. Volume is 1,118,100.

Update, 10:15am EST, 4/22/05: Decisively breaking through the psychologically significant $0.75 barrier, the share price now stands at $0.78, while the Bid is $0.77 and the ask $0.775. Buys outpaced Sells from 9;45am to 10:00am EST by 2:1.

Update, 10:00am EST, 4/22/05: With 813,022 shares now trading, the Bid is at $0.7550 and the Ask is at $0.7630. In the first 15 minutes, oddly, Sells outpaced Buys by 329,890 to 325,241, meaning this level has been the price target for some people. Just 3,700 were unidentified.

Update, 9:49am EST, 4/22/05: Bid back to $0.755, Ask to $0.76. Volume 761,232 shares.

Update, 9:46am EST, 4/22/05: 732,972 in the first 16 minutes. Share price has fallen back to $0.745, the Ask, while the Bid is at $0.75.

Update, 9:40am EST, 4/22/05: 527,640 shares in the first 10 minutes! Bid has fallen back to $0.7510, Ask at $0.7520.

Update, 9:35am EST, 4/22/05: 350,640 shares have traded in the first 5 minutes, and the price now stands at $0.7570, up $0.0170, the Ask. Bid is at $0.7550.

Update, 9:24am EST, 4/22/05: The Bid is now set at $0.75, a cent higher than yesterday's $0.74 close, and the Ask is $0.76. We had 1,670 readers yesterday!

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