Reconnaissance Energy (Africa) Ltd V.RECO

RE:RE:RE:RE:review ..

[Moemoney42]

I hope you're right BP.. I am always cautious of companies whose share prices run so quickly.. especially those with gaps.. that 11.25-11.40 gap got filled friday.. I hate to say it but I don't think the shorters are done here yet.. could be ~$9 before any real support appears.. the profit takers could get nervous and amplify the move.. be careful.. that said, I don't want to influence your decisions.. good luck..!

Bpultra wrote:

Moemoney42 wrote: Hey BP I just noticed the downdraft RECO had on Friday.. looks like you got caught on the wrong side of this trade a bit.. I know you have shares far below the close though.. will be interesting to see what happens Monday..? I don't have any but follow it when you brought it up on CPG's board.. Good luck..!

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Yeah I was getting a bit cocky last week ... thinking I would never lose again..need a adjustment .lol... but if you have been in this game long enough you know it happens ... my long blocks still have a BE of under 2.50 so I am safe with those...  Thursday I made a grand on one swing trade in like 35 minutes ... ... and then Friday thought .. hey looks like I can do it again.. bought the first 1000 at $12.30 .. which was 7 cents under what I paid on Thursday to make the grand .... then oopppsss... thought hmmmm bought another 1000 at $11.64    and then oh boy.... so bought another 1000 at $10.94  so that one trading block of 3000 has a BE of $11.62....   so will have to see what happens Monday... if they keep walking it down I will keep buying 1000 blocks ... if cpg keeps moving up and reco down I will  take some money out of CPG and move it to reco ...reco will have a quicker up tic than CPG.... IMO.. but a real good lesson learned this last week.... as with CPG ,, the shorts on reco have allot of power... I am pretty sure they ran this up.. and then doubled down  .. and IMO reco got too high too quick... and in hindsight should have saw that and felt that coming but I also got caught up  in some of the hype... the shorts are no dif than CPG they have done the exact same thing run it up and pull it back by a buck... but with cpg I have a ton of history so have guessed right way more times that wrong… reco I have got caught a couple times but have always recouped the trading blocks.. I am doing the same thing with reco as I am with CPG … I hold a nice long position while trading around it…  Fridays move took a lot of green off my reco long hold…lol….  . But I really believe this story it’s just I have to trade with the shorters and what the banksters give you… CPG has a huge amount of shorts … but it looks like reco does as well… and these guys must be in some sort of pain to throw all the BS they have been able to produce… they have not shook me out… I have actually ..as I have stated added .. and will again next week if this continues…. Bottom line reco is either de-risking the whole play or they have been lucky on two holes … I have placed my bets so just have to hold …. Nothing  for me  in this story has changed . I just have to be in tune with our Shorty buddies and little better … it’s a dirty game and doesn’t ever seem to change so you just have to get in the pig pen with these pig crooks and root around with them … think we will see a rebound in short order … GLTA