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Linn Energy (LINE -18.5%) and LinnCo (LNCO -16.9%) slump to session lows in the wake of the...

Linn Energy (LINE -18.5%) and LinnCo (LNCO -16.9%) slump to session lows in the wake of the informal SEC inquiry and subsequent J.P. Morgan downgrade. Also issuing a downgrade, Wells Fargo believes the Linn structure, in and of itself, is not under scrutiny, but says investors may discount the possibility that the Berry (BRY) merger unravels given the inquiry which could take one to four months to complete.
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Comments (23)
  • MichaelJ8
    , contributor
    Comments (716) | Send Message
     
    lolol
    2 Jul 2013, 02:25 PM Reply Like
  • zack54
    , contributor
    Comments (113) | Send Message
     
    it's way overdone and I'm loading up
    2 Jul 2013, 02:32 PM Reply Like
  • Mattster
    , contributor
    Comments (164) | Send Message
     
    Now what do you think of Cramer?
    2 Jul 2013, 02:36 PM Reply Like
  • arthur_bishop1972
    , contributor
    Comments (2617) | Send Message
     
    What drama!!
    2 Jul 2013, 02:43 PM Reply Like
  • WheresTheDough
    , contributor
    Comments (186) | Send Message
     
    You know tonight on Mad Money, Cramer's gonna tear LNCO and LINE apart. I've learned not to listen to him except as entertainment with those tiresome sound effects
    2 Jul 2013, 02:58 PM Reply Like
  • Brett22
    , contributor
    Comments (83) | Send Message
     
    How about Leon Cooperman who was on CNBC last week telling the flock that Omega had "3 different accounting firms separately analyze LINE's accounting and there are no issues" when Leon defended Omega's large LINE position. More pain to come in this name. Makes me also skeptical of TCRD which Leon tried to talk up multiple times but has not traded well over the past month. Buyer beware.
    2 Jul 2013, 02:45 PM Reply Like
  • djmansfield
    , contributor
    Comments (22) | Send Message
     
    Cooperman wasn't "talking up" LINE. He was giving his reasons for not buying into the propaganda that has been vigorously distributed by Hedgeye and Barron's in the short attack efforts over the last 6 months or more.
    2 Jul 2013, 03:01 PM Reply Like
  • elliot_mllr
    , contributor
    Comments (1413) | Send Message
     
    Seller beware if the investigation exonerates Linn, as is highly likely.
    It is foolish to sell based on the existence of the investigation without looking forward to the likely results of it. Note that this is a private informal investigation by the Ft. Worth regional office, not a formal, Washington-based Enforcement Division investigation. The Ft. Worth office has many oil and gas companies under its aegis, virtually all of which calculate DCF as Linn does, by capitalizing hedges; this treatment is in fact required under GAAP for profit and loss computations and there is no rational basis for finding it to be erroneous for non-GAAP DCF computations.
    In fact this investigation may turn out to be a benefit for Linn by putting these issues behind it once and for all.
    Elliot Miller
    2 Jul 2013, 03:12 PM Reply Like
  • arthur_bishop1972
    , contributor
    Comments (2617) | Send Message
     
    <<In fact this investigation may turn out to be a benefit for Linn by putting these issues behind it once and for all.>>

     

    Elliot: That's what I'm thinking too.
    2 Jul 2013, 03:19 PM Reply Like
  • Brett22
    , contributor
    Comments (83) | Send Message
     
    You may want to go back and listen to Lee. Very bullish talk up and said "the assets are worth at least $40". Should you want to educate yourself to exactly what was said, it starts at 5:40 in the attached recording from the CNBC appearance I referenced:

     

    http://bit.ly/121n7ZL
    2 Jul 2013, 03:30 PM Reply Like
  • Scooter-Pop
    , contributor
    Comments (2396) | Send Message
     
    Mr. Miller,

     

    Don't Fight the Fed. Don't fight Acorn, Food Stamps, Free Cell Phone, Mortgage Assistance (Subsidy), School Administrators.... Somebody upset the Administration, the crack presented itself and the wedge is being driven. What do the facts have to do with it? Navigating the various and numerous manipulations should have us ALL (Those paying Taxes on Profits) running for the exits?
    2 Jul 2013, 03:56 PM Reply Like
  • JD in NJ
    , contributor
    Comments (1263) | Send Message
     
    What do the facts have to do with it, indeed... It was, for instance, a very non-factual attack that put an end to ACORN, which you suggest one cannot fight.
    2 Jul 2013, 04:00 PM Reply Like
  • movies555
    , contributor
    Comments (970) | Send Message
     
    Linn had way too many people awfully (and oddly) interested in going after it - Barrons and otherwise - and it was only a matter of time before all the noise resulted in some sort of investigation. Sorry to the longs.
    3 Jul 2013, 11:03 AM Reply Like
  • donnaf
    , contributor
    Comments (42) | Send Message
     
    Just checked Cramer's twitter feed - nada.
    2 Jul 2013, 04:09 PM Reply Like
  • abbdiver2
    , contributor
    Comments (33) | Send Message
     
    $LINE Whats it worth with out the merger ?If the dont have to cut the DIV anybody care to guess??
    2 Jul 2013, 04:59 PM Reply Like
  • Stonecutter12
    , contributor
    Comments (61) | Send Message
     
    I love it when Mr. Market throws a temper tantrum.
    2 Jul 2013, 05:35 PM Reply Like
  • Scooter-Pop
    , contributor
    Comments (2396) | Send Message
     
    The Short Sellers do too!!!
    2 Jul 2013, 05:36 PM Reply Like
  • Valuentum
    , contributor
    Comments (1357) | Send Message
     
    What do investors think of analyzing cash flow now?
    2 Jul 2013, 06:02 PM Reply Like
  • Devlin McGregor
    , contributor
    Comments (111) | Send Message
     
    Valuentum,

     

    Hi. I went back to look at the articles you wrote on LINE, and they seemed pretty positive. Just curious if you still feel the same way. Thanks in advance.
    2 Jul 2013, 07:38 PM Reply Like
  • Snickalfritz
    , contributor
    Comment (1) | Send Message
     
    When can you make big money on a stock ? When there's blood in the street !
    2 Jul 2013, 09:11 PM Reply Like
  • Micah
    , contributor
    Comments (479) | Send Message
     
    Except when its your own blood...
    3 Jul 2013, 07:26 AM Reply Like
  • Subhyanti
    , contributor
    Comments (2) | Send Message
     
    I am with the positive guys instead of those who always happy it some thing crashes.
    3 Jul 2013, 07:44 AM Reply Like
  • zack54
    , contributor
    Comments (113) | Send Message
     
    Shorts are going to be paying the dividend and I'm happy to buy in at this price.
    3 Jul 2013, 08:10 AM Reply Like
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