ORDER IMBALANCE....BUY SIDE....Hello Everyone,
Someone posted on Level 11, we have 7 buy orders totaling 1 million shares and, 13 sale orders totalling only 350,000 shares.
The buyers are in lots of 100,000 shares each or more. The sellers are in lots of 30,000 shares.
This means that people are LOADING UP on LFD. It also means that weaker hands are selling into much stronger hands.
Good40 keeps asking why people would buy LFD. He has been saying the same stale song since 20 cents.
The reason people are buying are as follows:
a) Seismic Report in Febraury 2011, most probably 13 billion barrels of oil at 10% chance, with 63% success
b) Vast, sister company, will announce NEW OIL DISCOVERY, within 2 weeks, this will ignite LFD.
c) Spud date Early April 2011
d) Soros and Insider standing buy orders at 65 cents
e) Q4-2011 Oil Production, most probably 20,000 barrels of oil per day
f) EOIM itching to re-buy 3.3 million share position he most likely regretted he sold.
TARGET PRICE: no resistance until 80 cents.
WEALTH: created by LOADING UP on LFD, being patient.
MY POSITION: Material position, Up 100%, Target in 2011 $ 4 per share, Target Profit 700% to 1000% in 2011.
JMHO