will today be the day?, page-44

t4p you need a reality check... You are sounding too much like I did last year with Petsec Energy. For a while there, in my eyes Petsec could do no wrong. Boy was that a mistake.

It was an absolute catharsis to sell my favorite stock earlier this year after China but not before the share price had retreated 70%. I have since bought back in but am pleased that I can now move in and out of stocks when they don't do what I expect them to.

I still made a good profit on PSA but I was blinded by greed and the belief that Beibu was going to deliver me a million bucks. Had I stuck to my "buy early and sell before spud strategy" I would have pocketed a much better profit.

That said, I too am a Nido fan. Along with Grahamc58 we made up half of the shareholder reperesentation at the recent EGM. I liked what I saw and heard and went home and stocked up again. But I set myself a target of a 100% gain and exited at 4 cents. It was the most profitable trade I have had all year. And it took all of three weeks. I left a fair bit on the table when the shares ran to 5 cents but I was very happy with the profit I took home.

Moral is don't be too greed,y if you are well in front take some profits and put them into a less speculative play like Arc or AWE. No matter how you talk Nido up on Hotcopper the market will decide what to do with the stock and with the "penny hopefuls" that usually is directly related to drilling activity and cash in the bank.

Nido has neither right now. Nor do the GALOC joint venture partners which is one of the reasons I bailed. Why accept a farm in from a group that has no money and can't drill!!!

If you want to play in the penny hopeful sand pit have a look at First Australian Resources,they have both a reasonable income and drilling activity in the US in a few weeks time.

Better still subscribe to "Junior Oilers Weekly" at www.oilers .com.au. But believe me posting 10 or 20 time a day on Nido on Hotcopper is not going to do anything for the stock. You risk losing the gains you have apparently made.

Nido may well come good in the fullness of time but right now they have a lot of work to do and there are in my opinion better opportunties among the junior oilers. You can always get back in later.