kavern23 wrote: I think we need to see CJ trade at over 3 bucks for a period of days before we can make the call that it has perm type support here.
Like few posters are willing to say they added CJ over 3 bucks...people are willing to hold but who is adding?
I have been very cautious buying on such a day when everything is up...I dont want to get stuck.
I did buy IPCO as I think even if oil fell to 60 they are worth 4.50 all day long.
But is CJ worth 3 bucks at 60 oil if that were too happen?
I said 3.20 yesterday and CJ shoot to 3.32 today but it is back under 3.20.
It's awesome...these have been rapid gains but hard to hold without some churn.
Still think we drop to 2.80 or under again.
We are still in a market that OPEC is artifically helping the price of oil.
Shouldnt be a straight line in gains and choppiness will exist.
GL all lets hope oil stays strong.
We need more info on the bank debt faculity before any talk of the divy.
My gut says bank will want debt under 150M before paying out divy or share buyback....
ozkan123 wrote: any TA's having a look at latest price.
Sure has appreciated to a good level, but my amateur look at the charts seems like a resistance at the current levels from 3 to 5 year chart.
I know this may mean sh*t with the good news lately and could explode up on any further good news, whether it's a dividend (although I think that may be premature still), or share buyback (still early??)
OR are we being window dressed for a sale above 4.
I would like to think on selling now and buying back in the 2.80's BUT....I got a feeling I may miss the next jump before it goes back down
Thoughts?