Hi Gym121...I'm enjoying the ride here (from 1.19)and the potential upside is enormous but I will derisk before any results as part of my investment strategy.I will sell around 60% and bank profits - whilst leaving 40% in for any potential further upside. That way, I'm guaranteed a decent profit -whilst still retaining some potential upside,should the results be favourable.
I am currently employing this same strategy with Petro Matad & Rose Petroleum, all 3 have risen from their lows and are showing me significant profits and I expect all 3 to rise further before I need to consider taking any profits.
The one small oil explorer I hold that will not require derisking is Rockhopper Exploration,they have already found the oil & the shares will reflect this when the Sea Lion Oilfield finally gets sanctioned later this year in Q4.
Hello saechmaster, are you on this board?
Re your comments on the amc board, I agree this will tick up to when the well is opened, is your strategyto get out just before that for a certain profit or after for a much bigger profit .. or loss ??? dyor
I am on the positive side for amc, I think once the pfs is out funding will become much easier and the present deal will be cancelled.
The only way this will be back at 2p is if the reopening of icewine2 hits a problem and fails to flow at the much-anticipated rates, as for me been in this for two years and only brought in on possible sale value if all the ducks align, all very much to play for as one thing is a given, the oil is there and this all now about proving how much and that it is extractable.
I rate Geng and when this got past 1.77 I added more another tranche to my smallish but growing position here. ( I was in previously but dumped all well higher and kept a small holder position and started growing that - slowly -back out from 1.1 p approx.)
News will start to pick up here in here in second quarter, I expect... and maybe this can readily continue ticking on up nicely .. last year a let down but shut in left plenty of hope for this year.. granted patience may be required over coming 3 plus months ..
Are you back in here now Geng and what is the next resistance you are seeing?
My little brain interesting comment since to the best of my knowledge a chimp has the intelligence of a 5 year old (according to a sign at Colchester zoo). If daddy has told you he now is making lots of money then clearly it must be true . I just loved his The Chubster has landed posts some months back and all his buys at 4p etc. I loved his deafening silence even more! If he has turned it around then good luck to him but it seems a tad like wishful thinking.
Really at a pivotal point here and had a good run out of the long term downtrend. I'm thinking there may be a short term pull back now the Gap has closed. Also RSI is looking a bit overbought and the bottom of the upward trend is around 1.1p
Resistance is 1.775 (was previous support) so if it closes above this then there could be a proper breakout and there are two juicy gaps way up to 11p to fill!
I'm currently out and waiting for either confirmation (breakout) or a retrace(lack of breakout) before I buy back in.
Hi chimp I thought that your dearest daddy aka the chubster fully loaded up (his own words) at circa 4p. Thereafter when they tanked he withdrew from these boards. Nice to know he had some money down the back of the sofa to load up some more at 1.1 ( although he/you have only mentioned it when the sp is at 1.6p). Please forgive me but I can smell something and it isnt a sweet smell!
"88 ENERGY (LSE:88E)Presumably this lot issued some grotty news. Last time we commented on LSE:88E:88 Energy, we gave 3.45p and 3.85p as upward targets, both of which were achieved. Then it fell off a cliff!Thankfully, there's something a bit ..."
" 88 ENERGY (LSE:88E) Presumably this lot issued some grotty news. Last time we commented, (link here), we gave 3.45 & 3,85p as upward targets, both of which were achieved. Then it fell off a cliff! Thankfully, there's something a bit ..."
When I am looking for a stock to invest in and also trade one of my criteria is that I look for a stock with the potential for game changing news ( result = speculation and volatility) and enough cash not to go bust anytime soon. My takeaway from the presentation is that 88e still fits that criteria with sufficient cash to fund it through quite a series of speculative events.. So I will use the charts to buy on dips and sell into rallies and hope that next year brings better tidings in terms of real results as opposed to just speculation. There remains all to play for on this stock with money to be made from patient disciplined investing.
Merely a technical recover Tuesday and today after the too sudden and too steep selloff. But I am very happy to see the price re-established above 1.10p - our initial retracement target.
- LTHs who didn't sell last week are safe to hold as long as 1p is maintained
- share placing probably around 1p, so that this level could hold for a while
- new bullish alert only indicated IF the strong 1.40p line is climbed.
Although it is being tested repeatedly, 0.90p still keeps holding.
Happy to see for all LTHs!
Nevertheless, with the main markets set for the rainy season in October, 88energy could see the mentioned 0.78p target and even 0.50p.
But this 0.78p will only hold if the majority of PIs will hold on to their stakes they've bought super low at 0.50p three years ago.
If you read different chats you can see that 80% are willing to hold - even if it reaches their entry price.
Please excuse the misspelling, I meant to write "bed wetter".
As you have topped up yesterday - and plan to keep topping up - allow me to publish a few price targets to whom it may concern:
- 1.04p now
- today sees continued pressure on the 1p support line and it is about to be breached
- if 1p is breached, then orderly retrace to 0.90p and 0.78p
- total bottom as from todays view would be 0.50p, but I hope that somewhat 0.80ish holds
- new bullish signal only possible IF the massive 1.40-1.50p walls are climbed.
You keep referring to that ""simple loss" you've made...
Allow me to tell you that other people, like me for instance, would have dealt with a substantial amount of money here. Maybe this helps to set the right perspective, if you keep trading with smallish 5k or 7k Pounds.
I for one could have never risked such a steep loss that you have seen here - ouch! Its not just your 45% price crash down to 1.10p yesterday. Just a week earlier you witnessed a 30% loss down from 2.45p. Puhhh!
2.45p or 1.10p? I for one am very very happy that my chart alert triggered and sold the entire lot. And I only sold at 2.45p because of the chart - not because of some company news.
Ahhh, I see, so here is our misunderstanding, badwetter! Because the truth is exactly the opposite:
"A core principle of technical analysis is that a market's price reflects all relevant information impacting that market. A technical analyst looks at the commodity's trading pattern rather than external drivers such as economic, fundamental and news events."
It's because 90% of the relevant news are already known to company directors as well as company insiders and their multiplicators.
About the current negative RNS: Many weeks ago company directors knew that this year testing will be very limited - thus difficult or impossible- because of the winter season. Only because they wanted to avoid panic selling in August they continued to give "okay" news over the past few weeks - until yesterday.
Oothatscheap, a few weeks before they open up the well we will get a share prediction of a bullish trend bla bla bla but its nothing to do with news on the horizon though its because the chart said so hahahaha.
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