Hopefully this latest rally in PANA left behind enough potential buyers so that it will bounce back smartly when it corrects this week. It looks like oil has a good chance of hitting $35 now and that price (along with the concomitant front page headlines) should induce even more of the Joe Sixpacks to consider putting some of their portfolio in energy stocks. I scanned the other energy stock boards on Raging Bull and PANA has about the 12th highest amount of posts. Most of the energy companies with more posts are either schlocks or downtrodden overlevered turkeys such as Queen Sand Resources. I don't believe any of the others are listed on an exchange.
I know folks are anxious to see the Amex listing become official but if everyone can just stay patient a few more weeks, we will all be happy campers. IMO the best possible sequence of events would be that the East Breaks drilling update comes out Friday, the Amex listing announcement comes out a coupla weeks after that, and then the DelValle well announcement comes out a week later. We want the East Breaks news before the Amex news, so as to minimize the amount of "selling on the news" from the East Breaks news. Also, it gives the retail crowd one last chance to buy into this stock, with good news in hand, before the institutions are allowed to begin their feeding frenzy when little ol' PANA becomes a listed stock again.
When PANA gets back into the spotlight and is, say, half-owned by institutions, and PANA management starts to only talk with analysts and not mere mortals such as individual investors, hopefully they will remember the days back in '00, when it was the common man, the Joe Sixpacks of the investing world, that nursed PANA back to life when it was on death's doorstep. |
