DH I generally dont respond to your posts but in this case will make a change in game plan.
THERE IS NO ALASKAN DRILLING PROGRAM THIS YEAR....***.Apologies for incorrect info on Alaska and thank you for pointing it out Green Peace!
The volume last night on LNCGY at close to 400,000 shares was the largest volume since March of this year when 500,000 shares traded.I see this as obviously as key reversal from all bear to all bull.Monday should see the stock firm again testing the $1.23 mark looks like a good Xmas for shareholders.I cant remember the name of the counter that traded in Singapore to giddy heights before crashing. The Singaporeans may well start to punt LNC pretty hard and throw caution to the wind so lets hope there's a wild ride ahead.
And if all those Aussies that have purchased at higher prices on the LNC story previously decided to average at these levels by buying a few more shares this would add to the momentum.
The key here is that LNC has enough cash and will no drilling in Alaska to burn a hole in the budget .....it's got to be attractive. **This is not an invitation to rush out and buy stock as I have a vested interested in LNC trading higher but a commentary on how i see the state of play.
LNC Price at posting:
99.5¢ Sentiment: Buy Disclosure: Held
