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Gold/Mining/Energy : The Oil & Gas Elephant Hunt

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To: SG who wrote (286)6/30/2007 6:38:10 PM
From: lazarre  Read Replies (1) of 309
 
Hi SG,

I also thought I got in high but at 3.90, then averaged down with a 3.56 buy. I really believed I had a LT hold and made a mental sell at 4.30....this was when it hit 5.05 area..

The next 2/3 days showed me a trading pattern that I believed was a bit contrived and/or just a momo stock ( despite the glaringly excellent fundies which I expressed before ). I had reservations in making this entry into a BB stock and felt it was confirmed on last wed. or thursady. That's when I bailed at 4.30.

I really don't know what's moving this stock in the way it does and felt uncomfortable with that---I was convinced there was some institutional participation on those hi volume days and I'll/we'll never know.

Maybe it's the summer; however, if it slips below 3.90 again, I'll be a buyer. I do believe, SG, that once this baby stabilizes and the next Q comes out, or some substantial news is released, it'll recover at the levels you bought in at. From there, it'll be up to you how to play it.

good luck, SG

lazarre
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