Reconnaissance Energy (Africa) Ltd V.RECO

Concerning

[Shirs1]

I've held this stock since December last year. This week is the most worried I've been about it. 

Nothing fundamental that has accounted for the leap this week. Could be the FOMO for next weeks presentation, but as we know nothing new will come out through that medium. 

For the first time, I just don't know what's happening

[doggiestyle]

I agree - it is being played with and it is nerve racking. There is nothing solid to value this on right now - so it trades on Fear and FOMO.  The Oilprice article was nice but not really needed at this time as they didn't really have anything new to say and the key message which is "Patience" plays right into the hands of the shorts.   

[Shirs1]

Ye. I like the run ups but each run down cuts harder. They won't announce anything next week as they'd have to inform the markets etc before they did. So when it's crickets at the conference are we right back.  nevertheless, no one wants a quiet life. 

[doggiestyle]

Patience is a tough ask when the stock runs up and down %10 a day. My patience has been running thin lately as I know we are months away from really knowing any more than we know today.   

[doggiestyle]

Can't complain about this week though

[rainorshine59]

Nothing unusual here. The stock found support back in against the previous Jan.-Feb. highs...which also corresponds to when the world woke up to the potential that this may be... 'The Last Great Onshore Virgin Hydrocarbon Oil Basin on the Planet.'

[Fastvinny]

Agreed with doggie , Have a small position in Reco as this is total speculative pricing . Not bashing but adding bit by bit  on dips... OP is a bit off the chart rah rah website btw. in oil play my big holding is Suncor and my gambling stock is RECO...   

[Shirs1]

Haha. And just like that they go release this!!!  Only issues left now, Is there source rock?

[doggiestyle]

I anticipate another wild week - (reverse of last week)  FOMO trades early in the week and the shorts retaliate later in the week.  The more attention this gets from the enviro crowd the crazier this will get. Emotion is NOT your friend with a stock like this as it makes you do the opposite of what you should be doing.  Once they prove oil hopefully the shorts  will disappear