G'day Katok. How are you over there? Things are certainly hotting up on the ICN front with some solid and sustained buying. Have nearly taken out everything up to .30 so the battle now begins with that big hurdle. Get through .30 and .40 looks like a much easier task.
There is certainly something behind all of this, t/o speculation (I hope not as that won't happen unless it is a ball tearer), big funding through Beach's 218 interests (if they have one) or, the big guys seeing what is ahead taking up positions now before the action starts.
Keeping in mind that ALL other shale and Cooper Basin companies have gone ballistic and ICN only started moving about a month ago and probably has a way to go to match their "peers".
But, I feel sure that the next couple of days will give us a better picture.
One would think that the vast majority who couldn't get out quickly enough have already done so, as would have the traders who got in after .19. They have had a great time and it wouldn't surprise me if many of those big hitters will keep chasing the SP up until 855 is drilled. Keep posting, IMO a long way to go yet.
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