Realities IIIHappy Friday.....well not so happy for some I'll assume.
Start of January I offered this board BIR would see the 5.60 area of which I would put a little skin back in the Game and have a small position just under 5.70 on the day.
End of November I offered we could see the 5.25 area and the 4.75 area for BIR if it got real ugly.
Well 5.25 is in play now as possible after the epic drop of NG from 4.86 to 3.80 yesterday. Now trading March and rollover next week from multiple time frame NG charts this likely 75-25% may not be over yet as 3.60 NG March trading extremely doable and 3.40 not out of the question yet April.
Not sure why more weight for discussion on this board is not placed on the commodity itself? Blah blah blah shorts talk 90% of which never get excercised (fact), we just saw a 20%+ drop in commodity price itself from less than 2 weeks ago, what would one expect on share price here given the heavy debt BIR still carries?
The percentages are there if NG drops another 10% from today's dead cat bounce high to $4 and 15% if they beat it down on rollover trading front end April.
I will add another small position if this slides to the 5.25 area and rent a uhaul trailer for the rest $4.80 area for a mid term hold given BIR's penchant for doing stupid things not forecasted lol..
In the meantime I will continue to enjoy the overall value/share appreciation of my transitionary play SDE as offered for those taking the time weeks ago to explore the numbers I presented, all IMO of course, cheers.