Crude Oil, page-16

Yet this is where I was wrong - my expectation for Oil to head towards $70.00 back then also had the expectation that it would drag OEL along with it !!!!! Yet this clearly hasn't happened which is extremely disappointing ! Can only hope for a delayed reaction if Crude keeps heading north . There are two things I'm watching technically in Crude Oil - firstly an equality move targeting $71.00. Yet if we get above this number with price remaining strong, then the chart turns from bullish corrective to bullish impulsive. It then means an extension move comes into play and that targets $93.00.

If this happened, and OEL is still sitting at 1c, then I'm throwing in the towel and taking my bat and ball home. There are now 120 million shares on the sell side - so who knows what is really going on behind the scenes here. Yet the fact is, and this goes for any share on the ASX, if there is absolutely no demand, then how on earth is the share price going to go up. You can't burn retail investors and fundies over and over again, then never communicate to whoever is left - no investor presentations, updates, nothing - and expect the share price to go up.

There is also a great opportunity for the new CEO to make an investment at 1c yet he is refusing to do so. Now why is that ??? If OEL have got nothing to say about anything at the moment, then him buying in would at least be making a positive statement. Yet he wont do it. The only difference between OEL and other penny dreadful stocks on the ASX, is that OEL, as a non operator, have a very top heavy over paid BOD. E.