Puddle & Thread,
I have been in SFY for more than a year. Right now, the technicals don't look good. I am very much concerned about the lack of news from NZ. Unlike others, I think that NZ is partially priced into the stock, at least "psychologically." Just read all these reports from the analysts. They all say that NZ is not priced into the stock. Well, if everyone knows about it, then it MUST be priced into the stock!
If this well in Kauri is not successful, I am very much afraid that the stock will tank. Today's price action looked like another dead cat bounce. I think there is some support around $23, but then, there is nothing until $11. If there is no price recovery in the stock soon and/or if it breaks $26, I will be getting out, even if I have to regret it later. I think I will be cutting my losses on this one soon.
I am not an expert in the energy sector and the lack of news from NZ has gotten me nervous ... Could this Kauri well be a dud?
Regards,
fp |
