We have all taken upon ourselves risk and the likelihood of dusters at any site is high and is a game of averages. Only for us is that we have done things back to front, via the GSA and the hype gave us the boom in share price the opposite way around. Instead of finding gas, we found a GSA and did not know what to do with it on a traders perspective as with these O&G, it is drill, find gas and stock goes up. Not get GSA and drill on a hope and a prayer... so it threw us all a lot. Hype and talk of gas under feet = market giving not a shit about the price as we had nothing but a piece of paper with a large number on it back nothing to back it up... now if we did have something to back it up (gas to fill it with), the shares would be at $5 AND I would be not working...LOL....
Time to take profits was on the hype like anything where as now, it is going to be the drilling that is only going to bring the hype back into this stock or a deal struck with another JV or something to kick start us again.
So this is now back to stage one of being a small time penny stock O&G that has to do a lot of work to get a lift off.
Yes, I am dirty in my mind with management, the fees they get and the way they have proved to do business. That is something we are allowed to be unhappy about. But having duster after duster is well, I forgot, part of this game...
Now Karlos bought up a point that gave me food to chew on. They are stuffing around so much, with only 4 TIN POT holes drilled, and just seem to have no idea, like Farmer Joes wife at a B&S ball. I mean, this seems to me to be a pretty big joke and it just seems surreal like a TRON movie...
Something is going on in the background, and it will be another surprise I feel that will move the share price upwards very fast but unless it has REAL legs (I mean to re-word, a "REAL STORY"), the wheels will fall off like it always does on this stock, but give us long term holders a very nice exit point (trade out 80% of holdings and let the rest go to hell and back)...
Time to think now of a way forward and this time, like all my other stocks that I trade, I will have a exit plan in place.
ICN yes can make me very, very rich but it has burnt me one too many times now and like any good trader, not to fall in love with the story is mighty hard to do, but I do that to 15 other stocks that I trade most weeks, so I cannot see why ICN should be any different.
Changed to a short term buy for me (not advice an never will be) after the news next week of most likely another duster and the shares dropping maybe down on news. To me, that is a entry point and can average in over the next month...
Good Luck
ICN Price at posting:
14.5¢ Sentiment: ST Buy Disclosure: Held
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