LGO? Correct. However it might have bounced off resistance (top of the Kumo) on Friday. It might have peaked intraday on Friday? I bought LGO last year at circa 045p, but sold out during the spike up in November.
EOG was worth buying on Thursday when the chart turned bullish. Good rise Friday.
However you need to be following the companies at the time to pick up on the chart turning bullish.
I'm not telling porkies lander!! I tell the truth, "warts and all". I said I bought PVR earlier this week. Look back at my posts. I paid 640p. I sold today for 610p. A painfull loss, but I didn't buy many and I'm prepared to take a loss if I think the Ichimoku chart has changed. It has!!
I did buy more LOGP at circa 0.47p. I have sold some of those today for circa 0.445p for a small loss.
I can absorb these small losses because I have gained good profits on FRR recently.
Why have I sold both, today, at a loss? Primarily because I wanted to buy more FRR. Selling LOGP and PVR was the only way I could raise the cash.
Far from finding my Ichimoku charts to be unreliable I have decided NOT TO IGNORE THEM in the future as I have done with LOGP for the last 6 months or so!! I have ignored the LOGP Ichimoku chart for too long. I will only increase my LOGP holding when the Ichimoku chart turns bullish again. I think that will happen only when those in the know start buying again. I still hold most of my LOGPshares.
The FRR chart, by the way, is still strongly bullish
think your telling porkies there mate,you said you bought pvr last week sp was was 340 and now sold out lower,then 2 weeks ago you bought more logp and now sold them at a loss,all the while ignoring the charts,mind you your ichimoku charts seem to be a very unreliable source
I bought in at 17p a couple of years ago and still holding. AIM hates a vacuum and that's what we have at present - no credible info. I intend to hold on for a number of reasons - Ireland is becoming a more trusted oil province; the big boys are circling and pouncing; someone (PVR?) will strike oil in another field soon; other provinces are continuing to dissapoint - Puntland, Namibia (though its time will come); Barryroe is a proven oil field not a prospect. AIM will undervalue any share that requires more than a 10 seconds attention span. Conversely, when the stars align, LOGP will fly. Patience is a virtue
I wonder if LOGP are holding out for the best deals possible for their farm outs and the potential bidders consider they are being too greedy and are not prepared to pay the price LOGP want? That could account for the very long time this farm out process is taking compared with the relative speed of the EOG farm outs. EOG seem to have set their sights a lot lower and were obviously prepared to accept relatively poorer terms for their 2 farm outs.
I have reduced my LOGP holding by about 25% pending the LOGP chart turning bullish. I sold the PVR shares I recently bought when the PVR Ichimoku chart turned bearish again. I have increased my holding in FRR instead.
This is good news re EOG. I don't hold these shares myself - LOGP being my mainstay - but as you say, if they can get this kind of interest in frontier territory, it bodes well for LOGP. Strikes me as not a great deal for EOG - more a finder's fee - so I'm relaxed about the farm out taking time, if we get the right deal...
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