Lightstream Resources Ltd. LSTMF

RE:"Crude Oil Prices Consolidate After Initial Brexit Decline"

[orlandofl]

number1hit wrote:

Good analysis from a technical perspective on crude pricing. 

"

• WTI Crude Oil Price Declines to a New Weekly Low After UK Vote
• Prices are Now Consolidating in a Symmetrical Triangle
• A Decline in Crude Oil Price Under $46.69 May Signal a Resumption of the Trend

WTI Crude Oil (CFD: US OIL) prices are currently consolidating after initially dropping to new weekly lows at $46.69. This extreme move in Crude Oil price was directly related to the US Dollar rally that occurred immediately after the release of yesterday’s UK vote. Now that much of the volatility of yesterday’s event has subsided, traders should continue to monitor support and resistance values to help determine the markets next move."

https://www.dailyfx.com/forex/education/trading_tips/chart_of_the_day/2016/06/24/Crude-Oil-Prices-Consolidate-After-Initial-Brexit-Decline.html

This seems to be from a Forex trading instructor and makes sense to me.  Sure beats all the bashers here lining up to buy LTS shares, company or/and assets.

Disclaimer, I am very bullish on oil medium and long term.  Short term, I agree with traders, you need to look at technicals.  I'm either buying or holding LTS at these lows.  Next four weeks will be violent and my bet is upwards.  Look at what other investors like bushhog1 and what more seasoned credible traders are saying here. 

Ignore these anonymous pirates that are bashing LTS.  They all do it because they want LTS.  No other reason.

very scary that you are calling bushog credible - ask many who have been long here for quite a while that are knowledgable and they won't point at him as someone to liisten to - he is the one saying we are looking at a 20 to 40 bagger here in a buyout - you call that credible.  He's not a bad guy, but he doesn't get it with his balance sheet, balance sheet, balance sheet mantra - if they don't get $130M in the next 60 days they'll go under if they can't get an extension on debt.  With all that said, I think LTS is worth a buy here at these levels for a possible short term double - longer term if they survive, oil prices go up and production starts to rise - then we can talk about asset value - right now it doesn't matter that much - if someone wants to buy them out they'll try to get them for as little as possible and companies are not wanting to take on debt.  a double would be huge - a 50% increase maybe more realistic if there are mublitple companies bidding on them.  A debt offering may make the most sense with stock options as incentive to take on debt.  It does seem like they want to renogiate debt, interest rates, etc.  We'll see what happens - I am optimistic for them, but if you told me I could have mansions on the moon and could get there in an hour and more I wouldn't think that was realisitc - I'd beleve you that I could fly to Jamaica.