" Anybody who was expecting much more than 1 million barrels of clearly didn't understand how reserves certification works. Which is understandable for the retail investors, but the brokers and so-called sophisticated investors should have known better. "
That is very important and true statement .
Unfortunately brokers and sophs unload onto retail and continue to over estimate the potential value of companies and their projects .
I say hooray for Hot Copper .
And as an aside I would like to see one of these vey fine Chartists we have , to show , on a chart , how this price drop occurred and how it could be forecast . So far I have only seen the upside versions . Perhaps Feehold would like to comment . It is a reminder to me of the need to take profits ( if you are in fact a trader ) and that the market is emotional and greedy .
Should be a bottom Monday by my bum chart .
I am going to be concerned about a major correction/downturn in markets for as long it takes to happen . Hence I am very much short term on many stocks no matte how much I like the story .
CTP Price at posting:
67.5¢ Sentiment: None Disclosure: Not Held
