haha. I wish I picked the downturn at 80c better!! I was too...

haha. I wish I picked the downturn at 80c better!! I was too caught up in the belief that every ann was going to be a gusher and 'the next one' would propel us into the 5th freaking wave to over $1..... .. A common misconception. Clever management (timing and better sequencing of wells) has lessened the blow these days..

In relation to the post I made about an ann in 72hrs, I mis-read. Drilling to be complete in 72, testing thereafter.

Personally, today's close suprised me. I do think someone's propping, to get out or support the SP I don't know. It costs nothing to place a buy order, except if it gets filled by suprise. It does however give confidence to the masses that someone wants to buy in big at this level.
If the SP comes down too close for comfort, I see those orders getting pulled pronto, and a retrace coming.

Tomorrow - cvn to hover in the 38c/39c range, it may even poke it's nose back into 40c?? This however might be enough to see punters leave, and there won't be the buying pressure to maintain?
Hard to see a 40c trigger being placed by anyone.
I do think it'll open green tho..

Problemn is, the futures are up due to financials. Money will be in the banks tomorrow, not oilers imo.. CVN won't bat an eyelid, watch the banks hammer..

CVN never moves up directly after an ann, it always retraces for a week - then comes back a week before the next ann.
Be smart - watch the volumes to gauge your run!!

FORGET the movement from 54c to 80c - that was due to an insto buying in heavily, remember there was no environmental approval at that stage and only exploration (high risk) wells were being drilled. No results came and we all felt shafted. Director sold, market tanked - meh, it was bad news all round..

If CVN goes to low 40's tommorow, I'll be happy for the holders. I don't begrudge them, I was one for a long time and I know where everyone of you is at.. But - like a reformed smoker (not that I am) I'm probably the worst critic.. But I'm not biast, I actually thought the US would tank more than this, I'm glad it hasn't.

In short - a green tomorrow imo.. (for what it's worth) but only a couple of %

:)