i am out for now

In the interest of transparency to all my MPO colleagues I've sold out for now. A few weeks ago my strategy, when MPO was still in the low 20's, was to reduce my position in the 20's and buy the same number of shares in CVI (another great T4P stock) at 12c and put the balance into high div blue chips. I thought when CVI catches MPO I will sell CVI and re enter MPO giving me a big bag of free blue chips along the way. I have now become attached to CVI for now as they are in a big uptrend. I did buy a fair hunk of MPO yesterday. I thought it was a good opportunity as the SP had ducked down below the MA line and I thought a return to the MA (about 18c) was imminent. MPO has gone the opposite way today streaking away from the already falling MA line.

This is now smelling too much the same as BDG did. I rode that one just about to the ground and it nearly ruined me. The SP was way down when the truth about BDG's geology came out. I'm not saying that this is the case with MPO but I think I will stick with CVI while it is going up and relook at MPO when it resumes it's uptrend. I was able to swap my MPO shares for CVI today share for share with a bit of change in my pocket.

For those of you who stay the course, good luck.


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