Frank, fwiw I have a tally of PGO shares in the 6 figure range, all bought at .40 or less. Plus I have a much smaller dab purchased at just over 3 (yah yah - too early). My stop is slightly below where it resides, at present.
I read Norske very well, and was once upon a time not to bad on the spoken end. I know the Norwegian oil industry and political side of the industry fairly well.
I don't think PGS is quite the crap shoot it was. Sometimes even cheap stocks get TOO cheap. The Norwegians imo are merciless when it comes to PGS situations, and it was the Oslo market, more so than the NYSE exchange, that drove this thing to the depths that it reached.
I was on the road when it hit .79 or whatever, otherwise I probably would have sold and reloaded.
When you watch/play this stock (if you do) pay close attention to the action in Oslo, and you will be better off. As I recall quite a few more shares trade in Oslo, than in NY. Use your stops religiously.
Some links and comments I have made.
stocklink.no
Click on 'Hele Dybden' directly translated means total or complete depth, here it means "The Whole Picture". Watch how many shares are at the bid/ask and the differential, daily. Pay attention to exchange rates as well. Based on historical precedent the Nok/dollar exchange rate is high, and should slowly fall. The lows are usually in the 5 Kr/USD range. But this ain't gonna happen tomorrow.
Message 17931005
Right now I'm playing PGO with a little more LT bent, whilst watching my backside. I honestly think they have a good chance to survive, unless the oil industry gets yet worse.
I'm not advocating anyone jump in wholesale, this is still a specer. This one has a long ways to go, even if it survives.
Lykke Til Alle Som Har Kjoept Noe PGO.
FWIW. |
