Guys lets remember how the share price got here in the first place, the announcement on the Gene well February 10th 2010. Previous to this the share price was .016. Since that announcement the share price has peaked at .041 which is 2.5 times greater. In my limited experience with O&G which equates to BCC, VIL and SSN there seems to be an underlying trend. Stocks become the flavour of the month, expectations build, punters get on board, the share price increases, an annoucement is released, profits are taken, punters exit and the share price falls. Who is left with the remains? Those people that fell in love with the stock.
Come on people! If a stock doubles or triples in two or three months take your profit and move on. What are you waiting for? A 4, 5 or 6 bagger. They rarely exist. Greed is not good with highly speculative O&G plays especially when there is an excess supply (one billion +). I got in late and got out early but I walked away happy.
The excitement is over for now. There are alot of people in profit positions that are moving or have moved to the next big thing. What that is I don't know but for now I'm back to cash. If you're willing to lock up your funds indefinately than this will be a good long term hold . Stop trying to reasure each other that the share price won't retract further. Rarely would a companies value double or triple on the basis of one drill.
Leigh
In my opinion only.
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