RE: Drill15 Apr 2021 19:48
D2B Are you being ironic or have you not had any exposure to small cap drilling? If you get time, you could pick a couple, or maybe 3-4 O& G minnows and look back at their SP performance/chart and correlate the SP movements with pre-spud announcements, confirmation of spud date, anticipated drilling time and then completion of the drilling. You might find that a price rises up to spud announcement and then if the drill is likely to take 6 weeks or more then the SP will drop back or drift sideways and then it might rise again towards the end of the anticipated drilling time etc. Usually there then follows a drop off on the SP until they start some sort of 'testing' at which point folk will get back in to a stock again in anticipation of a good test result-Many will bale out as close to the test result announcement as possible on the basis that more often than not, the testing isn't as positive as the hype may have inferred.- and better to take 15-20% profit for sure than hope to fck that the results are good. TXP for example went tips up over the last couple of weeks because a so-called world class well, was 'not' what was implied or expected by either market or the company. It was like getting a slap in the face with a wet fish!. .
Anyhow, if you can be bothered, look up some of the oilers and map the chart against rns's to see what you can find.--I expect a full report in the morning lol. FWIW, I got out of HE1 two days ago on the basis that there is a bit of time to wait for confirmation of a drilling plan and spud date although I shall keep a close eye on trades and when it seems to be somewhere near a change of direction or there is a bb buzz, I will buy back. I cant really say I'm a trader as I usually hold on to a stock for too long but sometimes I give the trading idea a go. The rise here was not really founded on anything other than praps the new president comment about Helium and therefore a retrace was likely. If it gets to that magic 10 or near enough then I would put the money back in again--or if we have gone past the end of April with no news by then I would buy in anyway as news would be close. In the meantime what is likely to happen is that there will be a stonking rns next week and I will have my pants down at the time and miss out entirely which is the risk we take--we shall see. Of course if you decide to buy more, keep what you have or sell its up to you, whatever you choose I hope you make some money along with every other private investor that entrusts their valuable cash in the hands of a complete stranger CEO.