I've decided against reinvesting in OGX for now and I'd like to share my reasoning.
After watching this company's share price nose dive last year, on the back of some encouraging announcements, I no longer believe that the announcements put forward by OGX are reliable. I'm at the point where I think the only way to gauge how this company is going is by the SP. I have a day job and don't rely on the share market to pay the bills. I like to invest for the longer term, therefore, since I don't have the luxury of always being able to monitor my computer, I would feel uneasy about this investment. What I mean is, I would worry that I mightn't be there to sell my shares should the SP suddenly plummet again.
It's great to see the SP recovering for all your sakes and I hope it keeps going, but once again - as others have voiced their suspicions -, you have to wonder about the sudden buying interest. For me, OGX's SP could very easily sky rocket but then again, it could just as easily come crashing down.
I like how SJB called for a measured approach but I also think that to sit idly by is just asking for more of the same. I accept the fact that I might miss some short term gains here, and possibly a good long term investment too - but I will not invest again unless there's a changing of management and I see a more transparent approach.
GLTA
Rhama
OGX Price at posting:
6.2¢ Sentiment: None Disclosure: Not Held
