Wow ?? - ie: pump & dump ? lil 'ole mwah ?
Hardly imho; I've owned RRC CRK & MEXP probably 100 out of the last 130 days. I trade - I don't particularly ''daytrade'' - but the major reason I sold here was I'm taking some Cash and taking a once in a lifetime vacation ??? Gimmie a damn break ... I will NOT have computer - trading access for 10 days - with all this missing barrell BS etc, - I ain't sitting blind - and unable to follow my positions....
I will own lots of CRK RRC MEXP HSE here again soon; I have limit buys on all of them - while I'm gone - up to 65% of my trading account.
I loved RRC early and often - since last fall ! I recently sold everything the day it spiked to $7 - sold it all - as that was ''the'' specific'' target price of two covering analyst/brokers. I was lucky - yes; lucky - in that it sold off big the very next day... I thought - aww hell; gonna have to buy this one back high, or miss the run if it bounces & runs up to $9 etc. It didn't - it continued to slowly sell off to under $5 1/2 - that was a gift ! I am not a technical/chart guru - but RRC did not signal a buy imho; untill there - I loaded at $5 7/16ths- 1/2ish. it then did a 180 degree turn and itI blew right back though $6 + again and had a one day 14% pop on NO NEWS ! - and as I've had my vactation planned for some time; I saw a prudent selling opportunity - and took the money and ran.... who wouldn't, or shouldn't have ? The volume wasn't high enough for RRC to be getting major institutional support that was longterm oriented - not like Fidelity stepped in and took a longterm major position and there was no news ! shame, shame on anyone who doesn't take profits on a one day 15% move...
CRK RRC HSE all had nice 20-25% short term moves here... why not take profits - there are still 6-10 other stocks that I'd buy in a minute with the proceeds - when there are no longer cheap alternatives - taking profits on spikes will be a little harder...
Trust me; I do NOT move any stock - what a joke ~ Sure; many people here could move MEXP - on a slow day perhaps... $2-3 a share on a 20-30,000 day, or 1/2 day could move it a bit.. but, not really if you watch it's action... you'd have to run it to 200K 2-3 days in a row... to signal anything ''really'' happening...
I still love CRK HSE RRC MEXP - and WILL own them all upon my return from my vacation - excepting any unforseen breakout, or bad news.... so excuuuuuuuuuuuuuuuuuuuuse me (VBG)...
... I've allways said I am a short-term, very high risk oriented TRADER. The most important asset to SURVIVING as a TRADER is to CONTINUALLY TAKE PROFITS ! .... and if you are too greedy, too stupid, or too ignorant NOT to take at least SOME profits on major 1-2-3 day moves - DON'T TRADE ! - you're gonna get killed... you'll allway will be selling on downturns and buying too high on the run ups.... been there done that (VBG) it don't work.... :)
Lesson #1 from the former knife catching, scarred, battle hardned and much smarter for the experience Slider:
Sell Spikes - buy Blow Offs --- in the companies you know & whose fundamentals you trust. Don't buy the run up's then puke & capitulate on the retracements ??? and what's the gripe here ? - there is no reason for longtermers to sell here ... and perhaps no reason for traders to either ???
... what's the song say ? - since you can't please everyone; you'd better please yourself...
go figure...
PS - also; when you see a Barron's article break out on a sunday morning - with Cheyrl Dorfman-Einhorn dissing the Oilpatch - you'd better be able to make your own decisions... or when Doomberg piles on with their spin... sure they can't change the longterm positive fundamentals - but if RRC spikes 15% on a friday - then Barron's comes out on the weekend - screaming that the Oil run up is a fraud - then shame, shame, on you - if you ''be'' a trader; for not knowing what to do on your own... come the open on Monday.... am I missing something here ?
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