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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: littlechuter who wrote (167990)5/3/2012 5:30:35 PM
From: Ed Ajootian  Read Replies (1) of 206187
 
little, Ridgeline Energy Services (RLE.V) -- yes that's almost certainly a big cause for the pullback, with the PP investors locking in their gains on the stock they got for $.60. I also believe the company's need for more cash is probably giving the PP guys more support to sell, since they figure that they should stand to get allotted new shares in the next PP to replace the ones they are selling now, probably for a price that is lower than what they are selling these at. This thinking was the source of my earlier thought that we would probably get a chance to buy this stock for a lower price.

I had started today with the thought that if the price held $.72, which looks to my untrained eye as a support level on the chart, then I would buy more stock. But the more I thought of it, I already own too much of this stock as it is, so I passed, even though it appears to have held that threshold.
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