Fig 14
Petroquest's story is very similar to Ariba's: you see normal behavior during period A, with a strong divergence during period B. Some lucky investor bought 150,000 shares at around $ 9.9, to see the price increase to over $ 12 in a matter of two days (see Figure 15). This is a profit of more than $ 300,000.

Following the PetroQuest 8-K filing on 27-Jan-2006: "On January 27, 2006, PetroQuest Energy, Inc. (the 'Company') issued a press release announcing production and estimated proven reserves results for the year ended December 31, 2005. In addition, the Company provided 2006 production guidance, an update of hedge transactions, and an overview of recent acquisition and drilling activities."

I wonder who was lucky enough to get that press release before it was made public. Luck will forever be a part of trading.


Fig 15