we DID pull a KNPLooks like I was right when I suspected that IFR might pull a KNP, whereby those "in the know" would accumulate on "bad news" (NO news forthcoming for months).
I thought we'd have a bit more time to accumulate though. Oh well, up is up, and money is money
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price at POST time: $0.51
SUBJECT: dlancelot Posted By: BlindBoy
Post Time: 3/24/04 18:22
Pay no heed to those derisively encouraging you to dump your shares.
The only reason IFR stopped dead in its tracks is because of the self-imposed gag (tight hole status), which is probably an indication of a successful well, as a few of the other posters have indicated.
Since there will be a news blackout until June, the supposition is that there won't be much happening with the stock price for several months. This may be so, or it may not be.
The same premise was paraded for Knight Resources last year, following the completion of a very successful initial drilling season on their Raglan property. You can see (far left side) it dropped from the 60's to the low 40's, with most of the traders figuring it would be dead in the water for many months, until the next drilling season began.
That's not what actually happened though. Stronger hands with a longer term perspective took advantage of the traders' selloff to accumulate the stock, and you can see that it pretty much tripled even in the absence of drilling.
We don't know how the trading will play out for IFR during this blackout period, but almost surely the price will do much better once the tight hole status is removed. There's potential for multiples on this stock, so don't get panicked.
https://stockcharts.com/def/servlet/SC.web?c=knp.v,uu[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G Knight
https://stockcharts.com/def/servlet/SC.web?c=IFR.V,uu[m,a]daclyyay[da][pb50!b200][vc60][iUg!Lk14]&pref=G International Frontier