I too am a little cautious for the potential sell off next week, I can see that there are a lot who will be looking at this next news point as an offload opportunity. Expecting the thermal maturity to come in trumps which should provide the boost required to push this up to 5c plus. Wonder however if the lack of understanding of what this means by most holders may mean that this company making news is sold into for easy profit? If I had no understanding of the oil industry then I'm sure that next week would be my exit also.
Having a reasonably sound understanding I'm not going to be able to bring myself to take any profit unless I feel that the SP has exceeded realistic potential eg 10c plus...
I commend anyone who does decide to take profit in this next week as the old bird in the hand clearly applies but I also think it's important to understand that this is no pump and dump, genuine value is rapidly increasing and 15-30 bags is actually quite realistic over the mid term so make sure that exit points firmly align with your trading plan. It might take a news article or broker report but at some point the wider market will see the upside and I hope by then everyone reading this already has their positions set. GLTAH
88E Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
(20min delay)