Granite Oil Corp GXOCF

RE:Buying opportunity in the low $3s - don't blink

[PROtrading]

Buddy, your $3.11 bids might not get filled but, then again, you might get lucky on this dog. On the other hand, if the divis for November don't get confirmed, pull your bids, you'll be able to buy this in the $2s

And don't fall in love with this one, it's a dog.  Treat it as such.  You're much better off with CJ as a legit investment buy and hold.  This is a good trade.. possibly....  And if they manage to maintain the 13% divis, they will be in good shape as an investment but this is speculate.  Not as bad as some of the other plays were were on last year. 

And stop bashing traders.  Not all of us are scumbags.

survivor2015 wrote:
Is it just me or is this stock target of a hostile take over and/or malicious traders?  I've seen this type of action before.  A commodity goes up and juniors get targetted for hostile take overs via market games.

Granite just reported and there's people out the targetting all the negativity and showcasing none of the positives.  I only see buying opportunitiies and I'm planning to increase my small position into Granite Oil Corp trading as GXO.TO in Canada and GXOCF in the US by a significant amount as soon as the panic stops.

What we have with Granite:

1. A solid "buy and hold" with a rock solid balance sheet with management showing how it can navigate crazy oil swings.  They have proven to hedge at the right time in a conservative and prudent manner and have proven that they won't pump uneconomical oil to make the numbers to try please shareholders on the short term against the tide but at their detriment longer term.  What's not to love?

2. A solid dividend player.  Please show me a better junior not only in oil but anywhere which pays 13% dividends.  Has a proven track record and has committed to paying dividends.  The stock trades as if the dividend cut is imminent.  Ridiculous. What's not to love with safe 13% dividends?

3. They have massive reserves for its size.  A tiny market cap of $113M CAD or $89M USD.  Unheard of.  There are many worthless Ventures stock that have large markets caps running on nothing but hot air.  This company has 100% own assets or Conventional Oil in. They own their pipelines. They are in for the long term. Short term traders are just trying to mind manipulate investors here.  That's clear to me.

4. The underlining commodity is consolidating at $57 WTI, and Brent at $64.  WCS crude is almost $55.  The bull trend is set and not broken short term from June 2017 and longer term from Feb 2016.  Might there be a pullback?  Sure but don't ignore the longer trend and fundamentals.  Saudi Arabia wants attractive oil for its Aramco IPO.  Russia has decades of history as the world's best "head fake" and "fake news" world puppet masters.

The short selling traders are now trying to convince investors that Q4 is going to be horrid, that new lows will be set, that management isn't growing production during uncertain oil price times.  All rubbish talk. 

Their narrative that the dividends will be cut has "done its job" on the share price and now they are adding more FUD - Fear Uncertainty and Doubt to the pot to fool the less solid investors. Sickening.

If you get fooled by these traders, then you might wish to find a money manager for your money.  I, for one, will be buying here.  If you sell, I might be you buyer.  I'm setting my bids between $3.11 and $3.21 but with the comapny declaring the end of November dividends at any moment now, that might be too low?  Anyone else setting bids to buy?