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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 677.56

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To: Johnny Canuck who wrote (47920)	5/16/2012 6:59:33 PM
From: E_K_S	Read Replies (2) of 69886

Thanks, so it is a possibility. I will have to evaluate my oil stock buy list. Suncor Energy Inc. (SU) is one on my list. I will have to review their most recent presentation to see what their production cost is. I believe it is a lot lower than $75/barrel but it will be worth checking. FWIW, started a position today in GreenHunter Energy, Inc. (GRH) -NYSE Amex which I know you follow. My quick check of the chart shows $1.62/share as the 200DMA. I bought my tracking position at $1.61. Missed the stock on the run up, so thought this price was the first decent entry point to start a position. Now that MHR closed their $450M senior note financing, over $350M in CAPX money available to drill wells. GRH should get all the water service contracts (it helps that CEO Evans is also on the board of GRH - conflict of interest?). The two companies have worked in the past and should be working more in the future. EKS

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