Long Run Explor Ltd Ord WFREF

RE:RE:RE:RE:Change of plan….

[99999gold]

sapiensunus wrote: Bounces will be imminent… there will be a large one when the shorts squeeze. Hopefully today will be the day of capitulation for this stock. Unfortunately… for those who bought over two dollars there still may be some downside because the barrel may break into the 30’s. Unless we go into a recession, it can’t stay there long. As a new buyer there is plenty of time to accumulate, but there is nothing wrong with a position initiation on down days. Keep your shorts on if you been doing so (my broker will not allow shorts under 1.00). However, shorts beware because we could also be setting up for a double bottom. A good indicator will be to see if it holds. Bottom line… if you believe in this company as a long term player it’s always hard to average down because you need cahoonas of steel. But… for most stocks…when everyone wants out it’s the best time to buy.

I won't be sticking around to find out if this goes to zero or not - I covered half today and cover the rest if my theory is proven right. What I do know that the 52wk low will get hit again and will establish a new one at 1, so I'll be selling half at 1.15 then 1. 

As for going long I'd wait for that new 52wk low and if stays there for a period of time as for a period of 10/30days and oil have stabilize somewhat then intiate a position based on that fact.

The only oil play I really like is ATH - because its cash is actually worth 2.25 and it traded down to 2.08 and RMP/RRX/KEL because their balance sheet is actually quite "clean" but I'd wait until they've hit their 52wk lows, typiclly when that happens they do overshoot down further. 


Good luck all.