PSA 0.00% 2.1¢ petsec energy limited

due for a run

  1. 1,121 Posts.
    Speaking with my traders hat on here

    dont be fooled by the market depth
    on this stock ,most serious players
    never disclose their hand without a reason

    I know for a fact it has been hard to get
    decent lines of stock even on their intra day
    low of 96c only 529k shares traded hands
    which was a bit of concern on a technical
    point of view.

    Would have like to seen a 'capitulation'
    where the volume was a lot higher

    Most of the serious T/A guys would have aready bailed
    ( these are the guys OMR that are easily spooked by wild swings )

    Now we have a bit of a wild bull market in the energy sector & as much as I like ( & own OSH, WPL) I see little
    value in owning more ,while any future drlling success
    from PSA will be rewarded cos the market has a full
    understanding of their weak points.

    Anyway there is a lot of hot money out there at the moment & some of it is gong to come PSA way
    so I would be getting prepared for some wild swings

 
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Currently unlisted public company.

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