junior oilers 12/13 april, page-7

Jocam,

Although I got out of PSA (I'm still essentially a trader and was getting the impression from the trading pattern that it was peaking in this run up. Got out at 46 cents over 2 days) I am looking for a re-entry soon. It may pull back a little more but if it doesn't it may pay to try to trade it either before the next report or take a risk of it not rising after the report and buy in later. Keeping an eye on it with those approaches in mind.

Bit hard to know what will happen to the junior oilers as the Iraq thing develops but the juniors may not,as you say, be affected to the extent the majors are.

I traded ICN a fair while ago for something close to a zero outcome. I was just about to get in (13 cents) as it started drilling off Louisiana when the drill broke and it dropped to about 7 cents the same day. I got in and out quite a few times in the next month or so.

In light of your comments I will keep an eye on this one along with FAR.

Thanks for your report.

Regards llew.