OTCPK:ATGYF - Post by User
Post by
commoditiesbullon Mar 17, 2009 12:05pm
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Post# 15849485
Bought more today
Bought more todayBought more AEN today for long-term holding. I suspect that we will move up quite quickly once oil breaches $50.
The sell-side volume is drying up suggesting to me that we could see fairly sharp moves in AEN's share price. No doubt the institutions and mutual funds will want to get back into AEN shares given that a year ago when oil was $90, analysts were calling for AEN to be a $10 stock. Good luck to them on getting the volume they want without moving the share price up substantially.
I note that AEN rallied in early 2009 to $.70 on lower oil prices. Given that crude is higher today than at the start of the year, there is no reason why AEN will not push back to that price point in the very near term.