Phil,
That is the trouble with too many/too big a position imo. Too likely to reduce in a time of fear. Best defence against fear is perhaps good research, strong conviction and manageable position.
CVN is my biggest oiler position by a long way, but small compared to two nickel positions JBM and IGO, where I really backed the truck up during the american calamity, and went back for seconds. I now have 2/3 the truck load of CVN I once had, unlikely to buy more now. If CVN goes like a dream it may nevertheless overtake both my nickel positions, in which case with hindsight I will say I bought enough. If not then with hindsight I may say nevermind, there were better opportunities elsewhere.
I like stories that are ongoing, rather than the one hit gambles. The way I see CVN is at least two drilling rigs for many many years. I would expect the JV to consider increasing rigs if any of the other fields come in, by which time cash should be building. I strongly prefer to buy stocks that I do not NEED to sell, where the story keeps running. I hope CVN is such, my research indicates the odds of this are good.
EL
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Last
14.5¢ |
Change
-0.005(3.33%) |
Mkt cap ! $259.4M |
Open | High | Low | Value | Volume |
15.0¢ | 15.0¢ | 14.5¢ | $260.6K | 1.776M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 1647050 | 14.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.0¢ | 408931 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 1647050 | 0.145 |
14 | 2377994 | 0.140 |
3 | 462000 | 0.135 |
4 | 529300 | 0.130 |
1 | 257502 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 193931 | 3 |
0.155 | 869157 | 16 |
0.160 | 842989 | 15 |
0.165 | 245510 | 7 |
0.170 | 477678 | 10 |
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