RE:RE:RE:RE:End of day
I fully agree with pbay on a likely pullback at some point tomorrow.
Tomorrow
I like many of you are over the top with the increased possibility for HUGE success on this play. With the light oil find, regardless if it proves difficult to extract or is not commercal , it is definitely not the end of this story. We are on liftoff and the flight may yet prove to be a long and difficult one but imho utter failure seems extremely unlikely.
I do not believe for a moment this is pump and dump and those who do must be on drugs. The money and insiders involved are not atypical to a simple grab the money and run. The stakes are high and the odds of success have greatly increased.
I am of the opinion some short term players will squeeze a few pennies profit on a half million shares or so tomorrow (nothing to sneeze at and no risk ). They will pump up the price early and close out some of their position before closing. I predict an opening above .34 and a pullback mid-morning, when those individuals see the bids thinning. The ones wanting out will dump quickly. I am going to guess that the pullback will touch below thirty and may go even as low as .265 at the extreme. For those wanting in, or more stock, it will be a buying signal. I am in at an average of .12 and sold some at .33(long standing order) today. I intend to buy back more than I sold which is something I very, very rarely do.
I suggest retail buyers not chase the stock on opening and wait for the pullback. Of course I could be wrong but I have been in the game a long time. Do not no matter what, buy more than you can afford, for only “taxes and death” are an absolute.
In my opinion .33 to .40 is probably the max for tomorrow. Remember the stock will need to rest at some point and Monday could even be (if no news) the best day to buy. One must consider most stocks fly up for no more than three consecutive days before some type of pullback, regardless of the long term outcome
Close tomorrow should end higher then today. Buy smart and take it easy, if you pay two cents more on Monday or buy six cents lower tomorrow it does make a difference when you buy any type of volume.
I would like another 15,000 total but will place a stinkbid (for trading) for an additional 15,000. I will buy only what will not keep me awake worrying about some not so good news. If I am wrong and the price goes straight up “oh well” there is always another play in the future. Unless of course you invest more than you can afford to lose. Remember you have no second chance to recuperate your lose, if by the grace of Buddha, you foolishly lose everything you have by getting to dam greedy! Been there, done that in 2000
I want all of us on this board to make the big score, including myself!
Trade smart not on emotions and good luck to everybody.
Don't flog me if I am wrong!!