My personal thoughts have been over the last couple of weeks to keep adding small shareholdings to slowly average down my cost for a 6 to 12 month hold, mainly in the options. We need to give the company time to prove their resources and to keep adding the producing wells. We all know the potential but like they say in sport potential only gets you so far and maybe this is as far as we go until we start realising some of that potential. Yesterday was a good first step.
I know there have been holders from late 09 who rode this to where it is today by holding (some still holding). At that point SSN had some potential to find something with no cash and being held to ransom by the bank. To me that is a greater investment risk than holding today so to those holders still holding from 09 I tip my hat to you, you certainly have big ones.
At the moment for me there is more potential in SSN now than in 09 to sell at this stage. Potential can sometimes go unfulfilled but from my experience as an accountant the key to any business is having the cashflow to take advantage of that potential. Too many companies simply do not have this luxury that SSN has over the next 12 to 24 months, especially in this area of the market. This gives us the best chance of realising the potential. I am betting that history will repeat this time next year because our survival does not depend on the next well result as we have the cash to ride the good and bad.
These are just my thoughts only and not saying I am right. If you need to trade to live or protect capital then I guess we will see you when it is our turn in the sun again. Me I am no good at day/short term trading as I often got left holding the baby of the last great company that had potential and then getting stuck in some CR because they had no cash.
Sitting and waiting for the next leg up or maybe the rate we are currently trading the next top up opportunity.
SSN Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
