I have been thinking about all this downward pressure and what it means. We know there's been manipulation and accumulation, plus frustration for holders, despite brilliant results such as continuous oil flows
However, I think that considering the price moved from 1.6c to 3.7c within a week, it was entirely understandable and healthy, that the SP needed a good old fashioned clean-out.
When one looks at the chart, without the pullback on there, how confident would you feel buying in bulk at say the 3.3c level (like I did initially!!!) - isn't hindsight an overrated thing?
So, now that it has pulled back, a few days of consolidation at these levels, getting us closer again to news on fraccing and Ripsaw spud, the charts are filled in nicely and gaps closed, and it can then push up to higher highs.
I am a pretty average chartist, but I'm sure most out there would agree.
It's also fair to say that every man and his dog knows SSN can do half a billion volume in a day, and will again soon, so everyone is just waiting for that really nice entry position, to get set, sit back and wait for the 50% + jump in price.
I just got my final order for SSNO at 1.6c, so I am now completely set. I have exercised a strategy of averaging down, in the hope that what I wrote above is correct and am very relaxed about my position now.
Anyway, happy to hear all opinions Cheers, Wilson
SSN Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
