re: shareprice is rising again // + chart's
I am a NEO fan (although currently not a holder after about six months of being so) and whilst I admire the technical analysis, my conclusion is that in the present environment the signals are very micro...it's like picking the difference between 4.32 and 4.34 cents. It's enough to say we're getting sideways action and really a decent half cent move either way is gonna get my attention, not dicking around for 0.1 here and 0.2 there. I'm getting really tired of the OPL comparisons, they have a fair bit more than NEO and to me it's really clutching at straws to put so much reliance on OPL price action as a determinant of NEO moves...someone more quant minded can run the correlation over the last six months. My guess is it isn't pretty....
This is not to say that NEO doesn't have a chance etc, I still like it, but I'm playing in things which have already proven what they have like OSH and ROC, so at least if the oil price goes up, you see something for it. That has been the real shame about being long NEO, you get nothing to make up for your cost of carry. Sure, people will say it will prove everyone wrong etc, but in the meantime, you've missed almost 10% on OSH...
NEO Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
