RE: ORE: Strong support at 1.5$I made money in buying cheap stock not buying a stock a its fair value. At 2$ it is at its fair value right now. That why I want to buy under 2$.
I contact the company and what I can sum up is they will use only single fracture stimulation on Thrace basin this year. They still need to study every zone and get the proper frac receipe for every zone. They plan to use multiple fracture stimulation in 2012.
So I dont think this stock will do great over the next 6 months. I will take advantage of that weakness to buy the stock between 1.5-2$. No need to rush now this stock can still go lower. I said that to Houndtrader when were at 3.2$, it seems I was smart to wait. But still more potentail downside because no catalyst over the next 6 months.
This is a longterm play.
Why have u bought that stock taiman ?
Julien