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snoochy

355 Posts.

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17/12/14

20:56

Post #: 14477499
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Originally posted by possum2 ↑

Yes it was a nice change MichaelO to see a POSITIVE for a change.

We have been spoilt because LNG has been so consistently good for so long that it takes some conditioning when things don't go to plan.

For me the most important thing is that the drop in share price is not because we have made an announcement that our projects are not going ahead. On the contrary the last couple of announcements have all been positive. You wouldn't think it though.

There were some big orders purchasing stock today. So I am hoping it has gone to long term holders.

The trouble with a stock that has taken a big hit, is you get traders buying and then selling for a few cents higher.

This morning over 500,000 shares were sold at 1.80. I would suspect a lot of that stock came back out at various levels between 1.85 and 2.00.

Hence the reason over 7 million were done today. It has become a traders paradise.

What we need to see is some stabilization in the oil price. But trying to pick what it does from one night to the next is like trying to pick the winning tattslotto numbers. Almost impossible.

For that reason you cannot buy LNG at the moment with any confidence, because of these outside influences and that is something we have not had to deal with for the past 12 months.

One has always had the surety of being able to buy and hold knowing that the story was progressing nicely. For the moment that luxury has been taken away from us.

Now the daily movements are now being reflected by the fluctuations of the oil price, which does not lend itself to being comfortable as a shareholder.

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if it runs up to 2.2, and doesn't push through quickly the shorters will be all over it. Easy target when there is fear growing. Just my opinion.

LNG Price at posting: $2.05 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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