wpl question for geffa and others, page-20

re: wpl where to?
Anybody with rudimentary charting skill knew that $20-45 was always to be the turning point either way for WPL.
It was the point where many of the long term holders would lose their nerve, believing that the risk of holding WPL into the future outweighed the return. Xerxes last minute capitulation was evidence of this...LOL X.
Conversely, it was the point where the buying committment could easily have faltered...without some new piece of fundamentals to drive it, like the rumour of CNOOC taking a stake etc..

In any case, WPL has definately broken out. It is headed for $21.52, which is a stop on the way to $23.
I would be aware, though, that the price may come back to confirm $20.45 before heading higher. This is especially since WPL has not spent a large amount of time consolidating around this $18.50-$20.45 area.
Longer term, I see WPL moving towards $27. Oil prices will continue to make new highs imo.

I recall in December last year when WPL broke out of its 4-month long trading range. It was a Friday afternoon and the price had battled all morning against the customary $13-85 resistance. Finally it nudged its way over the advantage line, then took off immediately on volume. I blinked at it for a while, twiddled my thumbs, then went and made a cuppa... by the close of trading I had decided to wait until Monday..see what happened then..after all it could be a false break!!?? As it turned out I didn't get long until around $15-00.

I certainly didn't miss it this time. Now holding the three-pronged major oiler assault WPL, STO, OSH (OSH is my fav) and of course assorted juniors



Cheers,

Christian