Its disappointing to see the SP fall today but it is obviously still being traded, that's no news to anyone here. I'd say that we will drift around for the next week or two until people start buying back in in anticipation for the frac results and settlement of the sale. Its interesting because now the settlement will closely coincide with the flow rate results so I think end of Aug, start of Sep will be very exciting times. For anyone looking to buy back in I think they have the next week, possibly two to do it, as those traders wanting out will be out in the next couple of days as no news is scheduled for a couple of weeks at least, this may provide people with a very good entry. 6.5c may hold but since the volume is likely to dry up for the next couple of weeks, we may even see 6 (very unlikely but possible if someone really needs their cash). If it hits 6c, it would be an unbelievable time to enter.
For those that hold, if it doesn't drop further then that's great because come end of the month, we'll have some exciting times. If it drops further, then I imagine the bounce to be quite big.
SSN Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
