So almost everyone here agrees that MEO is destined to shoot skyward in a matter of weeks when Petrobras or Statoil etc open their wallets...
I too like the warm feeling of this optimistic view - and I'm forever wondering if I should just mortgage the house, kids and dog and just buy buy buy MEO (or MOG/CUE).
However..to play devil's advocate..if it is all such a simple equation and a sure thing why aren't people buying and driving up the price? Ok, I'm sure I'll hear that some 'bot' is capping it - but who cares, we can all buy at these apparently low low prices...
Latest quote from Commsec... 134 buyers for 3,816,791 units 325 sellers for 8,622,663 units
=> ~5m more sellers than buyers - are they waiting for a short term euphoric spike to cash in? Don't those foolish sellers read this forum!!
Could it be that Mr Market knows best and the MEO forum frenzy is a bit ahead of itself..?
Anyone got any intelligent ideas about this one?
Cheers and good luck to all. Hopefully those sellers will be eventually proven to indeed be fools. bbeenn
MEO Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
