Post by
takingthemon on Nov 14, 2013 10:42am
Loss of oil
Well the numbers have come out and the losses are still high as expected.
The stock slid back to below the $1.00 area. Since my last post the selling picked up. I am guessing that many are getting worried with the continued losses and the company not making any major changes to save money until the pipeline is up and running.
The stock is at a very desperate level. The continued weakness shows us how others are looking at the overall operations and the near term. The trend is your friend or your enemy. My average is around the $1.16 level. Although the price paid for the stock seems to be a mark for near term bounce I am cautious Until I see hidden orders and others waiting to be processed (BUYING) then I am not convinced that the stock will be headed anywhere for the rest of the year. We are coming into TAX LOSS SELLING and I am sure this one will be sold further for offsetting gains in CDN portfolios.
Regards
Comment by
blue_eagle on Nov 15, 2013 10:56am
OCSIN.....OIl Crime Scene Investigation Nigeria
Nigerian lawmakers probe Swiss-Nigerian oil fraud
https://www.wtvm.com/story/23954217/nigerian-lawmakers-probe-swiss-nigerian-oil-fraud
..
Nigeria: House Probes Collusion Between NNPC, Swiss and Nigerian Traders
https://allafrica.com/stories/201311130454.html